890 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Accuvest Global Advisors

Key Points

• Accuvest Global Advisors has purchased 890 shares of Tesla, Inc. valued at approximately $231,000 in the first quarter of the year.
• Various institutional investors have also modified their holdings, leading to a total of 66.20% of Tesla's stock currently owned by institutional investors and hedge funds.
• Tesla reported a quarterly revenue of $22.50 billion, falling short of analysts' expectations, and reported an earnings per share (EPS) of $0.40, missing estimates by $0.03.

Accuvest Global Advisors bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 890 shares of the electric vehicle producer's stock, valued at approximately $231,000.

Several other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% in the 1st 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 during the period. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the 1st 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 during the period. Newton One Investments LLC boosted its position in 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 acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC boosted its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Wedbush reiterated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research note on Monday. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average price target of $303.31.

Tesla Price Performance

Shares of TSLA opened at $319.91 on Thursday. Tesla, Inc. has a 1 year low of $191.48 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.92, a price-to-earnings-growth ratio of 10.85 and a beta of 2.33. The business has a 50-day moving average of $319.80 and a 200-day moving average of $309.56.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 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 the consensus estimate of $23.18 billion. During the same quarter last year, the business earned $0.52 earnings per share. Tesla's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 606,724 shares of company stock valued at $215,376,831. Company insiders own 20.70% of the company's stock.

Tesla Company 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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