37,334 Shares in Tesla, Inc. $TSLA Purchased by DoubleLine ETF Adviser LP

Key Points

• DoubleLine ETF Adviser LP purchased 37,334 shares of Tesla, valued at approximately $9.675 million, making Tesla the firm's 3rd largest holding at 3.2% of its portfolio.
• Various institutional investors have significantly increased their investments in Tesla, with some raising their stakes by as much as 833.3% in the first quarter.
• Despite a recent miss in earnings projections, Tesla's stock ratings are mixed, with an average "Hold" rating and a target price of $303.31 from analysts.

DoubleLine ETF Adviser LP bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,334 shares of the electric vehicle producer's stock, valued at approximately $9,675,000. Tesla makes up approximately 3.2% of DoubleLine ETF Adviser LP's holdings, making the stock its 3rd largest holding.

Several other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC raised its holdings 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 purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% in 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 in the last quarter. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter worth about $27,000. Finally, Centennial Bank AR grew its stake in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSLA. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Robert W. Baird reiterated a "neutral" rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One equities 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 MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $303.31.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,564 shares of company stock valued at $49,396,070 over the last quarter. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $334.09 on Thursday. The business's 50-day moving average price is $323.20 and its 200 day moving average price is $302.79. 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 twelve month low of $210.51 and a twelve month high of $488.54. The company has a market capitalization of $1.08 trillion, a PE ratio of 193.12, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share 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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