Ewa LLC Reduces Stock Position in Tesla, Inc. $TSLA

Ewa LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,631 shares of the electric vehicle producer’s stock after selling 231 shares during the period. Tesla comprises approximately 0.7% of Ewa LLC’s holdings, making the stock its 29th biggest holding. Ewa LLC’s holdings in Tesla were worth $2,106,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 1.4%

TSLA stock opened at $429.83 on Friday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08. The firm’s 50-day moving average is $364.02 and its two-hundred day moving average is $321.39. 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 results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. The Goldman Sachs Group raised their target price on shares of Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday, September 5th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $343.43.

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.