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Walled Lake Planning & Wealth Management LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Tesla logo with Auto/Tires/Trucks background

Key Points

  • Walled Lake Planning & Wealth Management LLC reduced its stake in Tesla, Inc. by 32% during the first quarter, holding 1,827 shares worth approximately $473,000 at the quarter's end.
  • Several institutional investors notably increased their positions in Tesla, with FMR LLC growing its shares by 40.1% and GAMMA Investing LLC expanding its stake by an astonishing 27,378.6%.
  • Tesla reported a quarterly EPS of $0.40, missing estimates, with revenues of $22.50 billion down 11.8% year-over-year.
  • Five stocks to consider instead of Tesla.
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Walled Lake Planning & Wealth Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,827 shares of the electric vehicle producer's stock after selling 858 shares during the quarter. Walled Lake Planning & Wealth Management LLC's holdings in Tesla were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. FMR LLC increased its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its stake in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Northern Trust Corp grew its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Tesla by 54.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after purchasing an additional 2,978,026 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 723,119 shares of company stock valued at $247,324,149 in the last 90 days. Insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Raymond James Financial downgraded Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $302.75.

Check Out Our Latest Stock Report on Tesla

Tesla Price Performance

NASDAQ TSLA opened at $325.59 on Tuesday. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock's 50-day moving average is $324.37 and its two-hundred day moving average is $313.04. 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 firm has a market cap of $1.05 trillion, a P/E ratio of 188.20, a price-to-earnings-growth ratio of 9.93 and a beta of 2.39.

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

Tesla Profile

(Free Report)

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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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