Quantbot Technologies LP Sells 7,420 Shares of Tesla, Inc. $TSLA

Quantbot Technologies LP cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,392 shares of the electric vehicle producer’s stock after selling 7,420 shares during the quarter. Quantbot Technologies LP’s holdings in Tesla were worth $3,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Northern Trust Corp lifted its position in shares of Tesla by 21.6% in 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 position in shares of Tesla by 322.1% in 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 lifted 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 purchasing an additional 158,697 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 849,091 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares of the company’s stock, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 599,724 shares of company stock worth $213,126,501. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA opened at $329.31 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $321.01 and its two-hundred day moving average price is $304.26. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.35, a PEG ratio of 11.65 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSLA. China Renaissance restated a “hold” rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Robert W. Baird reiterated a “neutral” rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Wedbush reiterated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Roth Mkm dropped their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $303.31.

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.