Berger Financial Group Inc Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Berger Financial Group Inc increased its position in Tesla, acquiring an additional 1,074 shares, bringing their total holdings to 13,253 shares worth approximately $3.4 million.
• Recent earnings results showed Tesla missing analyst expectations, reporting $0.40 EPS against a consensus estimate of $0.43 EPS, with a revenue of $22.50 billion for the quarter.
• Institutional investors own 66.20% of Tesla's stock, highlighting significant institutional interest and investment in the electric vehicle producer.

Berger Financial Group Inc grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,253 shares of the electric vehicle producer's stock after buying an additional 1,074 shares during the quarter. Berger Financial Group Inc's holdings in Tesla were worth $3,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC lifted 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 worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its position in Tesla by 79.2% during the first 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 last quarter. Newton One Investments LLC grew its position in Tesla by 250.0% during the first 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 last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter valued at $27,000. Finally, True Wealth Design LLC boosted its stake in shares of 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 purchasing an additional 31 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $7.34 during midday trading on Friday, reaching $329.61. 90,979,625 shares of the stock were exchanged, compared to its average volume of 89,568,456. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.53, a PEG ratio of 11.58 and a beta of 2.33. Tesla, Inc. has a twelve month low of $194.67 and a twelve month high of $488.54. The firm has a 50-day simple moving average of $318.68 and a two-hundred day simple moving average of $307.45. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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 the consensus estimate of $0.43 by ($0.03). The company 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%. Tesla's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was 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. Over the last quarter, insiders have sold 602,724 shares of company stock worth $214,176,831. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSLA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. China Renaissance reaffirmed a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Bank of America increased their price target on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Finally, Raymond James Financial lowered Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $303.31.

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.