B&D White Capital Company LLC Makes New Investment in Tesla, Inc. $TSLA

Key Points

• B&D White Capital Company LLC has invested approximately $425,000 in Tesla, Inc. by acquiring 1,638 shares in the first quarter.
• Multiple institutional investors have increased their stakes in Tesla, including Cadence Bank and Rahlfs Capital LLC, highlighting growing institutional interest in the company.
• Tesla's recent earnings report revealed a $0.40 EPS, which was below analysts' expectations, and a revenue decline of 11.8% year-over-year.

B&D White Capital Company LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,638 shares of the electric vehicle producer's stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Cadence Bank grew its stake in shares of Tesla by 20.2% during the 1st quarter. Cadence Bank now owns 1,227 shares of the electric vehicle producer's stock valued at $318,000 after acquiring an additional 206 shares during the period. Rahlfs Capital LLC grew its stake in shares of Tesla by 114.7% during the 1st quarter. Rahlfs Capital LLC now owns 2,265 shares of the electric vehicle producer's stock valued at $587,000 after acquiring an additional 1,210 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Tesla by 16.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 267,288 shares of the electric vehicle producer's stock valued at $69,270,000 after acquiring an additional 37,406 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Tesla by 1.6% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 572,251 shares of the electric vehicle producer's stock valued at $148,305,000 after acquiring an additional 8,873 shares during the period. Finally, Haverford Trust Co grew its stake in shares of Tesla by 47.1% during the 1st quarter. Haverford Trust Co now owns 3,193 shares of the electric vehicle producer's stock valued at $827,000 after acquiring an additional 1,023 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. HSBC restated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Canaccord Genuity Group upped their price target on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $303.31.

Tesla Stock Performance

TSLA stock opened at $340.01 on Friday. 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 business's fifty day simple moving average is $321.27 and its two-hundred day simple moving average is $303.60. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54. The firm has a market cap of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.13 and a beta of 2.33.

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). 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 previous year, the business earned $0.52 EPS. The business's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction 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 in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on 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 transaction, the senior vice president 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. In the last ninety days, insiders have sold 599,724 shares of company stock worth $213,126,501. 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.

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