Tesla, Inc. $TSLA Stock Holdings Trimmed by Belpointe Asset Management LLC

Belpointe Asset Management LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,382 shares of the electric vehicle producer’s stock after selling 13,431 shares during the period. Belpointe Asset Management LLC’s holdings in Tesla were worth $8,659,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC bought a new position in shares of Tesla in the 1st quarter worth about $3,247,619,000. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Amundi grew its position in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the 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 completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on 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 sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,606 shares of company stock worth $49,581,812 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $346.97 on Wednesday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market capitalization of $1.12 trillion, a PE ratio of 200.56, a P/E/G ratio of 12.08 and a beta of 2.06. The firm has a 50-day moving average price of $325.50 and a 200 day moving average price of $302.26. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Stifel Nicolaus set a $440.00 price objective on Tesla in a research report on Friday. Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Finally, China Renaissance reaffirmed a “hold” rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $303.00.

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.