Tesla, Inc. $TSLA Position Increased by Amundi

Key Points

• Amundi increased its stake in Tesla by 29.4% during the first quarter, owning 16,771,882 shares valued at approximately $4.48 billion.
• Director James R. Murdoch sold 120,000 shares of Tesla stock for over $42 million, marking a 14.69% decrease in his ownership.
• Tesla's latest earnings report showed a net margin of 6.54% and a quarterly revenue decline of 11.8%, missing analyst expectations.

Amundi raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 16,771,882 shares of the electric vehicle producer's stock after buying an additional 3,814,610 shares during the period. Tesla comprises about 1.6% of Amundi's portfolio, making the stock its 6th largest holding. Amundi owned 0.52% of Tesla worth $4,482,789,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its position 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 valued at $25,000 after acquiring an additional 42 shares during the period. Pacific Center for Financial Services grew its position in shares of Tesla by 1,616.7% during the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock valued at $42,000 after acquiring an additional 97 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Finally, Newton One Investments LLC grew its position 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 valued at $27,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSLA shares. Wedbush restated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Bank of America raised their target price on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Price Performance

TSLA traded up $12.31 during trading on Friday, reaching $350.84. The company's stock had a trading volume of 108,740,568 shares, compared to its average volume of 72,012,552. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $324.00 and a two-hundred day simple moving average of $302.65. Tesla, Inc. has a 1 year low of $210.51 and a 1 year high of $488.54. The company 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 released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,564 shares of company stock valued at $49,396,070. 20.70% of the stock is currently owned by company insiders.

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.