Vestmark Advisory Solutions Inc. Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Vestmark Advisory Solutions Inc. reduced its stake in Tesla, Inc. by 16.1% in Q1, now holding 67,094 shares valued at approximately $17.4 million.
• Insider transactions included notable sales, with SVP Xiaotong Zhu selling 15,000 shares and CFO Vaibhav Taneja selling 6,000 shares, reducing their positions significantly.
• Tesla reported a miss on earnings with an EPS of $0.40, below the estimate of $0.43, and revenue down 11.8% year-over-year to $22.5 billion.

Vestmark Advisory Solutions Inc. decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,094 shares of the electric vehicle producer's stock after selling 12,859 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Tesla were worth $17,388,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC boosted its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Navigoe LLC purchased a new position in Tesla during the fourth quarter worth approximately $37,000. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by insiders.

Tesla Trading Down 0.4%

TSLA opened at $339.38 on Thursday. Tesla, Inc. has a 12 month low of $198.75 and a 12 month high of $488.54. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 196.17, a PEG ratio of 11.85 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The business has a fifty day moving average price of $318.69 and a 200 day moving average price of $306.71.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Barclays reduced their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $303.31.

About Tesla

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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