Algorithmic Investment Models LLC Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Algorithmic Investment Models LLC made a new investment of $1.10 million in Tesla, Inc., acquiring 4,252 shares in the first quarter.
• Several institutional investors, including Amundi and Aprio Wealth Management LLC, significantly increased their stakes in Tesla during the same period.
• Tesla's most recent earnings report showed a miss on EPS expectations, reporting $0.40 compared to the consensus of $0.43, with revenues of $22.50 billion, falling short of $23.18 billion.

Algorithmic Investment Models LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,252 shares of the electric vehicle producer's stock, valued at approximately $1,102,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its stake 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 lifted its stake 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 lifted its stake in shares of Tesla by 250.0% in the 1st 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 during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the 1st quarter valued at approximately $27,000. Finally, Centennial Bank AR lifted its stake in shares of 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 purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of a number of recent research reports. William Blair reiterated a "market perform" rating on shares of Tesla in a research note on Friday. Guggenheim reiterated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Canaccord Genuity Group lifted their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Up 3.6%

Shares of TSLA stock traded up $12.31 during mid-day trading on Friday, hitting $350.84. The company's stock had a trading volume of 108,740,568 shares, compared to its average volume of 72,012,552. Tesla, Inc. has a 52-week low of $210.51 and a 52-week high of $488.54. The business has a 50-day moving average price of $324.00 and a 200 day moving average price of $302.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 202.80, a PEG ratio of 11.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,564 shares of company stock worth $49,396,070. 20.70% of the stock is owned by insiders.

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.