Trexquant Investment LP Lowers Position in Tesla, Inc. $TSLA

Key Points

• Trexquant Investment LP reduced its position in Tesla, Inc. by 18.5%, selling 25,842 shares to hold 113,567 shares valued at approximately $29.43 million.
• Several institutional investors increased their stakes in Tesla, with notable increases including Cherry Tree Wealth Management at 86.3% and First PREMIER Bank at 79.2%.
• Tesla reported earnings of $0.40 per share for the latest quarter, missing expectations by $0.03, with a decline in revenue of 11.8% year-over-year.

Trexquant Investment LP decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,567 shares of the electric vehicle producer's stock after selling 25,842 shares during the period. Trexquant Investment LP's holdings in Tesla were worth $29,432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter valued at approximately $27,000. Finally, True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,564 shares of company stock worth $9,757,390 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 0.6%

Shares of TSLA stock opened at $349.60 on Thursday. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $322.87 and its 200 day moving average is $303.14. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 202.08, a P/E/G ratio of 12.23 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TSLA shares. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Canaccord Genuity Group raised their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Mizuho reduced their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $303.31.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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