Revolve Wealth Partners LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Revolve Wealth Partners LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,388 shares of the electric vehicle producer’s stock after selling 202 shares during the period. Revolve Wealth Partners LLC’s holdings in Tesla were worth $868,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Norges Bank bought a new stake in Tesla during the fourth quarter valued at about $7,844,757,000. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Tesla by 0.9% during the first quarter. California State Teachers Retirement System now owns 4,611,096 shares of the electric vehicle producer’s stock worth $810,585,000 after purchasing an additional 41,498 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday, April 24th. Canaccord Genuity Group lifted their price target on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Friday. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $204.21.

Tesla Trading Up 0.9 %

TSLA traded up $1.98 during trading on Friday, hitting $216.12. 88,620,586 shares of the stock were exchanged, compared to its average volume of 90,901,848. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The firm has a market cap of $689.25 billion, a price-to-earnings ratio of 55.13, a P/E/G ratio of 5.22 and a beta of 2.31. The firm has a 50 day simple moving average of $215.14 and a 200 day simple moving average of $190.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 1.79 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

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.