TFB Advisors LLC Sells 948 Shares of Tesla, Inc. $TSLA

TFB Advisors LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.2% during the 1st quarter, Holdings Channel reports. The firm owned 4,265 shares of the electric vehicle producer’s stock after selling 948 shares during the period. TFB Advisors LLC’s holdings in Tesla were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Northern Trust Corp increased its holdings 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 valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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 valued at $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 holdings 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 valued at $9,908,828,000 after acquiring an additional 158,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Argus reiterated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, Canaccord Genuity Group lifted their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $303.31.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on 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 owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 1.7%

NASDAQ:TSLA opened at $329.31 on Wednesday. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The firm has a 50 day moving average of $321.01 and a 200 day moving average of $304.26. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.35, a PEG ratio of 11.65 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last posted its 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 firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.