CacheTech Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• CacheTech Inc. increased its holdings in Tesla, Inc. by 23.9%, acquiring an additional 2,336 shares, bringing its total to 12,099 shares valued at approximately $3.13 million.
• Several significant hedge funds, including Goldman Sachs and Vanguard Group, also increased their Tesla stakes, indicating a strong institutional interest in the company.
• Tesla's stock has faced challenges, with a 1.5% decrease on a recent day and quarterly earnings that fell short of analyst expectations, reporting an EPS of $0.40 compared to an expected $0.43.

CacheTech Inc. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,099 shares of the electric vehicle producer's stock after acquiring an additional 2,336 shares during the quarter. CacheTech Inc.'s holdings in Tesla were worth $3,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after buying an additional 158,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after buying an additional 849,091 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 1.5%

Shares of NASDAQ:TSLA opened at $330.56 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $320.41 and a 200 day simple moving average of $305.81. The firm has a market cap of $1.07 trillion, a PE ratio of 191.08, a price-to-earnings-growth ratio of 11.67 and a beta of 2.33. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction 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 owned 5,924 shares of the company's stock, 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. Insiders have sold 599,724 shares of company stock worth $213,126,501 in the last ninety days. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, China Renaissance reissued a "hold" rating and issued a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $303.31.

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.

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