Fairscale Capital LLC Lowers Stake in Tesla, Inc. $TSLA

Fairscale Capital LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,159 shares of the electric vehicle producer’s stock after selling 57 shares during the quarter. Tesla comprises 1.2% of Fairscale Capital LLC’s holdings, making the stock its 16th biggest position. Fairscale Capital LLC’s holdings in Tesla were worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. Eagle Capital Management LLC purchased a new stake in Tesla in the fourth quarter valued at approximately $331,000. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares during the period. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter worth $346,000. Finally, Highview Capital Management LLC DE acquired a new position in Tesla in the fourth quarter valued at $2,367,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $330.56 on Monday. The stock has a market capitalization of $1.07 trillion, a PE ratio of 191.08, a price-to-earnings-growth ratio of 11.49 and a beta of 2.33. The business’s fifty day moving average price is $320.41 and its 200 day moving average price is $304.57. 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, Inc. has a 12-month low of $202.59 and a 12-month 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 the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 1,950 shares of the company’s stock, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,724 shares of company stock valued at $213,126,501. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. UBS Group set a $290.00 target price on shares of Tesla in a research report on Monday, June 30th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Robert W. Baird reissued a “neutral” rating and issued a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Finally, Piper Sandler restated an “overweight” rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $303.31.

Tesla Company 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.