Waypoint Wealth Partners Inc. Sells 1,402 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Waypoint Wealth Partners Inc. has reduced its Tesla holdings by 53.5%, selling 1,402 shares in the first quarter, leaving it with 1,218 shares valued at $316,000.
• Tesla reported a net margin of 6.54% and a decline in revenue by 11.8% year-over-year, with earnings per share of $0.40 which fell short of analysts' expectations.
• Institutional investors collectively own 66.20% of Tesla's stock, demonstrating significant interest despite recent fluctuations in share price and earnings performance.

Waypoint Wealth Partners Inc. lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 53.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,218 shares of the electric vehicle producer's stock after selling 1,402 shares during the quarter. Waypoint Wealth Partners Inc.'s holdings in Tesla were worth $316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Northern Trust Corp increased its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after acquiring an additional 158,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 0.4%

Tesla stock opened at $339.38 on Thursday. The stock has a 50-day moving average of $318.69 and a two-hundred day moving average of $306.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a one year low of $198.75 and a one year high of $488.54. The stock has a market cap of $1.09 trillion, a PE ratio of 196.17, a price-to-earnings-growth ratio of 11.85 and a beta of 2.33.

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

Analyst Ratings Changes

A number of brokerages recently commented on TSLA. UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Finally, Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the 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 transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by corporate insiders.

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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