Tesla, Inc. $TSLA Shares Sold by CTC Alternative Strategies Ltd.

by · The Cerbat Gem

CTC Alternative Strategies Ltd. lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 22.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,400 shares of the electric vehicle producer’s stock after selling 694 shares during the period. CTC Alternative Strategies Ltd.’s holdings in Tesla were worth $622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank raised its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC raised its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter worth about $27,000. Finally, Centennial Bank AR raised its position in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $350.84 on Monday. Tesla, Inc. has a one year low of $210.51 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a 50 day moving average price of $324.00 and a 200 day moving average price of $301.88. The firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 202.80, a price-to-earnings-growth ratio of 12.24 and a beta of 2.06.

Tesla (NASDAQ:TSLA – Get Free Report) last issued 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the company posted $0.52 EPS. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business’s 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 completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,000 shares of company stock valued at $48,663,510. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. HSBC reiterated a “reduce” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Argus reiterated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.31.

Check Out Our Latest Report on Tesla

Tesla Company Profile

(Free Report)

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.

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