Tesla, Inc. $TSLA Position Trimmed by Strive Asset Management LLC

Strive Asset Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891 shares of the electric vehicle producer’s stock after selling 175 shares during the quarter. Strive Asset Management LLC’s holdings in Tesla were worth $231,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Tesla in the fourth quarter valued at approximately $346,000. Highview Capital Management LLC DE acquired a new stake in Tesla in the fourth quarter valued at approximately $2,367,000. Finally, Bison Wealth LLC lifted its stake in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.2%

Shares of TSLA stock opened at $346.97 on Wednesday. The stock has a market cap of $1.12 trillion, a P/E ratio of 200.56, a price-to-earnings-growth ratio of 12.08 and a beta of 2.06. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock has a fifty day moving average price of $325.50 and a 200 day moving average price of $302.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm 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 firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,606 shares of company stock valued at $49,581,812 over the last ninety days. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. HSBC reiterated a “reduce” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. China Renaissance reaffirmed a “hold” rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Benchmark reaffirmed a “buy” rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $303.00.

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.