Guggenheim Capital LLC Sells 96,280 Shares of Tesla, Inc. $TSLA

Guggenheim Capital LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,610 shares of the electric vehicle producer’s stock after selling 96,280 shares during the period. Tesla makes up 0.8% of Guggenheim Capital LLC’s portfolio, making the stock its 14th biggest position. Guggenheim Capital LLC’s holdings in Tesla were worth $86,977,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its stake in shares of Tesla by 86.3% during 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 period. First PREMIER Bank grew its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC grew its stake in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. HSBC restated a “reduce” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Benchmark reaffirmed a “buy” rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Up 1.5%

Shares of TSLA opened at $351.67 on Wednesday. The business’s 50 day moving average is $322.32 and its 200 day moving average is $302.82. The company has a market capitalization of $1.13 trillion, a PE ratio of 203.28, a price-to-earnings-growth ratio of 12.05 and a beta of 2.33. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. 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 (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue was down 11.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,777,200. The trade was a 25.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,564 shares of company stock worth $9,757,390. Corporate insiders own 20.70% of the company’s stock.

Tesla Company 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.