Earnest Partners LLC Has $380,000 Stock Holdings in Tesla, Inc. $TSLA

Earnest Partners LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,466 shares of the electric vehicle producer’s stock after selling 90 shares during the period. Earnest Partners LLC’s holdings in Tesla were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Eagle Capital Management LLC acquired a new stake in Tesla during the fourth quarter worth approximately $331,000. Brighton Jones LLC grew its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Tesla during the fourth quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in Tesla during the fourth quarter worth approximately $2,367,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TSLA shares. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. HSBC reissued a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Benchmark reissued a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $303.31.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on 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 sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,564 shares of company stock worth $51,792,190. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 1.0%

TSLA stock opened at $345.98 on Friday. Tesla, Inc. has a twelve month low of $205.97 and a twelve month high of $488.54. 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’s 50 day moving average is $323.35 and its 200-day moving average is $303.11. The firm has a market capitalization of $1.12 trillion, a PE ratio of 199.99, a P/E/G ratio of 12.15 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 earnings per share 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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.