2,292 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Keystone Global Partners LLC

Key Points

• Keystone Global Partners LLC purchased 2,292 shares of Tesla, Inc. valued at approximately $594,000 during the first quarter.
• Multiple institutional investors, including Cherry Tree Wealth Management and First PREMIER Bank, significantly increased their stakes in Tesla, highlighting growing institutional interest.
• Despite a recent 1.5% decline in stock price, Tesla reported a year-over-year revenue drop of 11.8% in its last quarter, missing earnings estimates.

Keystone Global Partners LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,292 shares of the electric vehicle producer's stock, valued at approximately $594,000.

Other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter valued at approximately $27,000. Finally, True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TSLA shares. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Guggenheim reaffirmed a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Wedbush reaffirmed an "outperform" rating and set a $500.00 target price on shares of Tesla in a research note on Monday, August 4th. Finally, HSBC reiterated a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $303.31.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction 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 in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock valued at $213,126,501 over the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Stock Down 1.5%

TSLA opened at $330.56 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company has a market capitalization of $1.07 trillion, a PE ratio of 191.08, a PEG ratio of 11.49 and a beta of 2.33. The firm's 50 day simple moving average is $320.41 and its two-hundred day simple moving average is $305.24.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.

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