Allium Financial Advisors LLC Makes New $1.52 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Allium Financial Advisors LLC invested approximately $1.52 million in Tesla, acquiring 5,855 shares, which constitutes 1.4% of their portfolio.
• Tesla's recent earnings report revealed a miss on EPS with reported earnings of $0.40 compared to the expected $0.43, alongside a year-over-year revenue decline of 11.8%.
• Insider activity saw Director Kimbal Musk sell 91,588 shares worth over $32 million, reducing his stake by 5.89%.

Allium Financial Advisors LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,855 shares of the electric vehicle producer's stock, valued at approximately $1,517,000. Tesla makes up 1.4% of Allium Financial Advisors LLC's portfolio, making the stock its 15th biggest holding.

Other hedge funds also recently modified their holdings of the company. Cherry Tree Wealth Management LLC grew its position in 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 raised its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. 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 purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter worth $27,000. Finally, True Wealth Design LLC raised its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSLA. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Barclays lowered their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, China Renaissance restated a "hold" rating and set a $349.00 target price on shares of Tesla in a report on Friday. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $302.75.

Tesla Stock Up 3.5%

TSLA stock opened at $316.06 on Friday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.02 trillion, a P/E ratio of 182.69, a PEG ratio of 11.59 and a beta of 2.39. The business's 50-day moving average price is $324.70 and its 200-day moving average price is $314.65.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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 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 period in the prior year, the firm posted $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

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 sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 in the last quarter. 20.70% of the stock is owned by insiders.

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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