Vestmark Advisory Solutions Inc. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Vestmark Advisory Solutions Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.1% in the 1st quarter, Holdings Channel reports. The fund owned 67,094 shares of the electric vehicle producer’s stock after selling 12,859 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Tesla were worth $17,388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TSLA. Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Tesla by 322.1% during the 1st 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock worth $9,908,828,000 after buying an additional 158,697 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after buying an additional 849,091 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $339.38 on Thursday. Tesla, Inc. has a 12 month low of $198.75 and a 12 month high of $488.54. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 196.17, a PEG ratio of 11.85 and a beta of 2.33. The stock’s 50 day moving average price is $318.69 and its 200 day moving average price is $306.71. 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 announced 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion for 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. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. Benchmark reissued a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Robert W. Baird restated a “neutral” rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. The Goldman Sachs Group lowered their target price on Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Bank of America raised their target price on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $303.31.

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock worth $214,176,831 in the last three months. 20.70% of the stock is currently owned by company insiders.

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.