Banco Santander S.A. Acquires 41,249 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Banco Santander S.A. has increased its stake in Tesla, Inc. by 16.3%, acquiring an additional 41,249 shares, bringing its total holdings to 294,601 shares valued at approximately $76 million.
• In addition to Banco Santander, other institutional investors, including FMR LLC and GAMMA Investing LLC, significantly increased their stakes in Tesla, showcasing growing institutional interest in the electric vehicle company.
• Tesla recently reported a quarterly earnings miss, with earnings per share of $0.40, below analyst expectations of $0.43, and a year-over-year revenue decline of 11.8%, raising concerns among investors.

Banco Santander S.A. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,601 shares of the electric vehicle producer's stock after purchasing an additional 41,249 shares during the period. Tesla accounts for approximately 0.8% of Banco Santander S.A.'s portfolio, making the stock its 19th biggest holding. Banco Santander S.A.'s holdings in Tesla were worth $76,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. FMR LLC increased its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. GAMMA Investing LLC grew its stake in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Northern Trust Corp grew its stake in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Tesla by 54.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after purchasing an additional 2,978,026 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Tesla by 65.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,937,475 shares of the electric vehicle producer's stock valued at $2,397,790,000 after purchasing an additional 2,350,065 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $302.63 on Friday. The firm has a market cap of $976.12 billion, a price-to-earnings ratio of 174.93, a price-to-earnings-growth ratio of 10.83 and a beta of 2.33. The stock's 50-day moving average is $322.22 and its 200-day moving average is $311.84. Tesla, Inc. has a one year low of $182.00 and a one 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.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TSLA shares. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday, July 22nd. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Barclays lowered their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Ten investment 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 company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $303.31.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,119 shares of company stock worth $246,186,549 in the last three months. Insiders own 20.70% of the company's stock.

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.

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