Triumph Capital Management Sells 197 Shares of Tesla, Inc. $TSLA

Triumph Capital Management lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,146 shares of the electric vehicle producer’s stock after selling 197 shares during the period. Triumph Capital Management’s holdings in Tesla were worth $1,635,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. grew 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 buying an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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. Charles Schwab Investment Management Inc. boosted its stake in 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 in the last quarter. Finally, Amundi lifted its stake in 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 acquiring an additional 3,814,610 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Canaccord Genuity Group raised their price target on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Royal Bank Of Canada reiterated an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. Finally, Mizuho cut their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $303.00.

Tesla Stock Performance

NASDAQ TSLA opened at $421.62 on Wednesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock has a market cap of $1.36 trillion, a price-to-earnings ratio of 243.71, a price-to-earnings-growth ratio of 14.30 and a beta of 2.06. The business has a fifty day moving average of $333.69 and a 200-day moving average of $305.35. 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 released 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 last year, the firm earned $0.52 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,606 shares of company stock valued at $51,999,662. Insiders own 20.70% of the company’s stock.

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.