Widmann Financial Services Inc. Sells 10,992 Shares of Tesla, Inc. $TSLA

Key Points

• Widmann Financial Services Inc. sold 10,992 shares of Tesla, reducing its stake by 67.8%, leaving it with approximately 5,228 shares worth $1,355,000.
• Several hedge funds have recently increased their positions in Tesla, including Cherry Tree Wealth Management LLC, which raised its stake by 86.3% during the same quarter.
• Tesla's latest earnings report revealed a missed estimate with earnings per share of $0.40 compared to the expected $0.43, alongside a revenue of $22.50 billion for the quarter, down 11.8% year-over-year.

Widmann Financial Services Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 67.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,228 shares of the electric vehicle producer's stock after selling 10,992 shares during the quarter. Tesla comprises approximately 1.1% of Widmann Financial Services Inc.'s investment portfolio, making the stock its 27th biggest holding. Widmann Financial Services Inc.'s holdings in Tesla were worth $1,355,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% in the 1st 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 during the last quarter. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC lifted 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 worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the first quarter valued at $27,000. Finally, True Wealth Design LLC increased its position in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $340.01 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. The business's 50 day moving average is $321.27 and its two-hundred day moving average is $302.58. The company has a market capitalization of $1.10 trillion, a P/E ratio of 196.54, a P/E/G ratio of 11.82 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TSLA. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Wedbush restated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday, August 4th. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the business's 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 completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock worth $213,126,501 in the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla 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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