3,000 Shares in Tesla, Inc. $TSLA Bought by Corient IA LLC

Key Points

• Corient IA LLC purchased 3,000 shares of Tesla, Inc. for approximately $777,000, marking the company's new investment during the first quarter.
• Recent analyst reports show a mixed outlook on Tesla's stock, with ten analysts issuing a sell rating, while the average consensus price target is set at $303.31.
• Tesla's recent earnings report revealed a miss on EPS of $0.40, falling short of estimates and showing an 11.8% decline in revenue year-over-year.

Corient IA LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,000 shares of the electric vehicle producer's stock, valued at approximately $777,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC raised its position 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 buying an additional 44 shares during the last quarter. First PREMIER Bank raised its position 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 buying an additional 42 shares during the last quarter. Newton One Investments LLC raised its position 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 buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter worth about $27,000. Finally, True Wealth Design LLC raised its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of TSLA traded down $5.2010 during mid-day trading on Wednesday, hitting $324.1090. 73,265,967 shares of the company traded hands, compared to its average volume of 105,232,750. Tesla, Inc. has a one year low of $202.59 and a one year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $321.01 and a 200 day moving average of $304.26. The stock has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 187.35, a PEG ratio of 11.65 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Tesla's revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $303.31.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on 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 sale, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock valued at $213,126,501 in the last three months. Insiders own 20.70% of the company's stock.

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.