M1 Capital Management LLC Decreases Position in Tesla, Inc. $TSLA

M1 Capital Management LLC cut its position in Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,797 shares of the electric vehicle producer’s stock after selling 44 shares during the period. M1 Capital Management LLC’s holdings in Tesla were worth $1,524,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TSLA. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the period. Bison Wealth LLC grew its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. GAMMA Investing LLC grew its stake in shares of Tesla by 6.0% in the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after acquiring an additional 2,153 shares during the period. Finally, Thomasville National Bank grew its stake in shares of Tesla by 34.1% in the first quarter. Thomasville National Bank now owns 1,581 shares of the electric vehicle producer’s stock worth $410,000 after acquiring an additional 402 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 5.1%

Shares of TSLA stock opened at $413.49 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a fifty day simple moving average of $375.97 and a two-hundred day simple moving average of $327.89. The firm has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a PEG ratio of 15.01 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business 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% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Wednesday. CICC Research upped their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. The Goldman Sachs Group increased their price target on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Tesla in a research report on Wednesday. Finally, Guggenheim reaffirmed a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $354.67.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last 90 days. Company insiders own 19.90% of the company’s stock.

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.