Tesla, Inc. $TSLA Holdings Reduced by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,919 shares of the electric vehicle producer’s stock after selling 26,433 shares during the period. Tesla makes up about 2.7% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 9th biggest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Tesla were worth $61,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Graney & King LLC boosted its stake in shares of Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock worth $63,000 after buying an additional 38 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in shares of Tesla by 108.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 8,273 shares of the electric vehicle producer’s stock worth $2,144,000 after buying an additional 4,306 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Tesla by 5.1% in the 1st quarter. Truvestments Capital LLC now owns 1,626 shares of the electric vehicle producer’s stock worth $421,000 after buying an additional 79 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Tesla in the 1st quarter worth $520,000. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Tesla by 2.0% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 191,246 shares of the electric vehicle producer’s stock worth $49,563,000 after buying an additional 3,812 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Robert W. Baird restated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. China Renaissance reaffirmed a “hold” rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Finally, William Blair cut Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $303.31.

Tesla Price Performance

NASDAQ:TSLA opened at $349.60 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $322.87 and its two-hundred day simple moving average is $303.14. The stock has a market cap of $1.13 trillion, a PE ratio of 202.08, a P/E/G ratio of 12.23 and a beta of 2.33. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,564 shares of company stock worth $9,757,390. Insiders own 20.70% of the company’s stock.

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.