Monetary Management Group Inc. Sells 41 Shares of Tesla, Inc. $TSLA

Monetary Management Group Inc. lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,502 shares of the electric vehicle producer’s stock after selling 41 shares during the quarter. Monetary Management Group Inc.’s holdings in Tesla were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in 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 period. Northern Trust Corp grew its position in 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 last quarter. Goldman Sachs Group Inc. grew its position in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were 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 in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock valued at $213,126,501 over the last three months. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 1.2%

Shares of TSLA stock opened at $320.11 on Friday. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. The company has a market capitalization of $1.03 trillion, a P/E ratio of 185.03, a P/E/G ratio of 11.26 and a beta of 2.33. The firm has a 50-day moving average price of $320.98 and a 200 day moving average price of $303.96. 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 announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Sunday. Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Mizuho decreased their target price on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. China Renaissance reiterated a “hold” rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Finally, Piper Sandler reiterated an “overweight” rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $303.31.

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.