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5th Street Advisors LLC Purchases New Holdings in Tesla, Inc. $TSLA

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Key Points

  • 5th Street Advisors LLC opened a new position in Tesla by buying 1,543 shares valued at about $694,000, which represents roughly 0.3% of its portfolio and is its 29th-largest holding.
  • Tesla beat Q1 EPS ($0.41 vs. $0.39) but missed revenue ($22.39B vs. $22.96B), with revenue up 15.8% year-over-year; the stock trades at a market cap of about $1.40 trillion and a trailing P/E near 342.
  • Insiders have sold 53,804 shares (~$20.9M) in the last 90 days reducing insider ownership to 19.9%, while institutional investors own 66.2% of the stock and analysts' consensus rating is "Hold" with a $398.42 target.
  • MarketBeat previews the top five stocks to own by June 1st.

5th Street Advisors LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,543 shares of the electric vehicle producer's stock, valued at approximately $694,000. Tesla accounts for approximately 0.3% of 5th Street Advisors LLC's portfolio, making the stock its 29th biggest position.

Other institutional investors also recently modified their holdings of the company. Delta Investment Management LLC increased its position in shares of Tesla by 78.2% during the fourth quarter. Delta Investment Management LLC now owns 12,651 shares of the electric vehicle producer's stock valued at $5,689,000 after purchasing an additional 5,552 shares during the period. Bell & Brown Wealth Advisors LLC lifted its position in Tesla by 0.7% in the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 13,726 shares of the electric vehicle producer's stock worth $6,173,000 after purchasing an additional 99 shares during the period. Jackson Hole Capital Partners LLC boosted its stake in Tesla by 9.9% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 1,413 shares of the electric vehicle producer's stock worth $635,000 after buying an additional 127 shares in the last quarter. Heritage Investment Group Inc. bought a new stake in Tesla in the 4th quarter valued at $345,000. Finally, Joseph Group Capital Management acquired a new position in shares of Tesla in the 4th quarter valued at $154,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

NASDAQ:TSLA opened at $372.80 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.40 trillion, a PE ratio of 342.02, a price-to-earnings-growth ratio of 13.59 and a beta of 1.91. Tesla, Inc. has a 12 month low of $270.78 and a 12 month high of $498.83. The company's 50-day moving average price is $383.70 and its two-hundred day moving average price is $419.55.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company's revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Tuesday, April 21st. BNP Paribas Exane upgraded shares of Tesla from an "underperform" rating to a "neutral" rating in a research note on Monday. Morgan Stanley set a $415.00 price objective on Tesla and gave the company an "equal weight" rating in a report on Thursday, January 29th. New Street Research upped their price objective on Tesla from $520.00 to $600.00 and gave the company a "buy" rating in a research note on Tuesday, January 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $510.00 target price on shares of Tesla in a report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $398.42.

Check Out Our Latest Report on Tesla

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,264 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $7,188,625.18. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the firm's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $359.33, for a total value of $9,273,947.97. Following the completion of the sale, the director owned 33,860 shares of the company's stock, valued at approximately $12,166,913.80. This trade represents a 43.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,804 shares of company stock valued at $20,865,598 over the last ninety days. Insiders own 19.90% of the company's stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

About Tesla

(Free Report)

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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