AM Investment Strategies LLC Purchases 8,541 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• AM Investment Strategies LLC increased its stake in Tesla by 33.1%, now owning 34,367 shares valued at approximately $8.9 million.
• Director Kimbal Musk sold 91,588 shares for over $32 million, leading to a 5.89% decrease in his ownership of Tesla stock.
• Tesla's recent quarterly earnings showed a miss on EPS estimates at $0.40, with revenues down 11.8% year-over-year, totaling $22.5 billion.

AM Investment Strategies LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,367 shares of the electric vehicle producer's stock after buying an additional 8,541 shares during the quarter. Tesla comprises 2.2% of AM Investment Strategies LLC's portfolio, making the stock its 11th largest position. AM Investment Strategies LLC's holdings in Tesla were worth $8,907,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Equitable Trust Co. lifted its holdings in Tesla by 3.8% during the 1st quarter. Equitable Trust Co. now owns 10,531 shares of the electric vehicle producer's stock worth $2,729,000 after buying an additional 389 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in Tesla by 50.3% during the 1st quarter. Drive Wealth Management LLC now owns 13,872 shares of the electric vehicle producer's stock worth $3,595,000 after buying an additional 4,641 shares during the last quarter. Caliber Wealth Management LLC KS bought a new position in Tesla during the 1st quarter worth approximately $628,000. Freemont Management S.A. lifted its holdings in shares of Tesla by 66.7% in the 1st quarter. Freemont Management S.A. now owns 10,500 shares of the electric vehicle producer's stock worth $2,721,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Trilogy Capital Inc. lifted its holdings in shares of Tesla by 19.0% in the 1st quarter. Trilogy Capital Inc. now owns 5,101 shares of the electric vehicle producer's stock worth $1,322,000 after purchasing an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 3.5%

Shares of NASDAQ:TSLA traded up $10.76 on Friday, reaching $316.06. The company had a trading volume of 147,437,834 shares, compared to its average volume of 90,285,424. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock has a 50-day moving average price of $324.70 and a 200 day moving average price of $314.65. The stock has a market capitalization of $1.02 trillion, a P/E ratio of 182.69, a P/E/G ratio of 11.59 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the 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 completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, 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. In the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. Raymond James Financial cut Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday. Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Mizuho lowered their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $302.75.

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.