Caisse Des Depots ET Consignations Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Caisse Des Depots ET Consignations increased its holdings in Tesla by 53.8% in Q1, owning 63,417 shares, valued at approximately $16.4 million.
• Several other institutional investors also adjusted their stakes in Tesla, with significant increases including a 181.8% rise by Flagship Wealth Advisors and a 12.3% increase by Mitsubishi UFJ Asset Management.
• Tesla's recent quarterly earnings showed a miss on EPS expectations at $0.40, alongside a year-over-year revenue decline of 11.8%.

Caisse Des Depots ET Consignations raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 53.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 63,417 shares of the electric vehicle producer's stock after purchasing an additional 22,188 shares during the period. Tesla accounts for approximately 0.8% of Caisse Des Depots ET Consignations' portfolio, making the stock its 17th biggest holding. Caisse Des Depots ET Consignations' holdings in Tesla were worth $16,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Wambolt & Associates LLC grew its position in shares of Tesla by 11.4% in the first quarter. Wambolt & Associates LLC now owns 3,088 shares of the electric vehicle producer's stock valued at $829,000 after purchasing an additional 316 shares in the last quarter. WBH Advisory Inc. increased its stake in shares of Tesla by 2.7% in the 1st quarter. WBH Advisory Inc. now owns 2,579 shares of the electric vehicle producer's stock worth $668,000 after acquiring an additional 67 shares during the last quarter. Flagship Wealth Advisors LLC raised its holdings in shares of Tesla by 181.8% during the 1st quarter. Flagship Wealth Advisors LLC now owns 3,100 shares of the electric vehicle producer's stock worth $803,000 after acquiring an additional 2,000 shares during the period. Pinpoint Asset Management Ltd boosted its position in shares of Tesla by 42.7% during the 1st quarter. Pinpoint Asset Management Ltd now owns 183,110 shares of the electric vehicle producer's stock valued at $47,455,000 after acquiring an additional 54,817 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Tesla by 12.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,264,254 shares of the electric vehicle producer's stock worth $1,364,284,000 after purchasing an additional 578,266 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Bank of America raised their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Cantor Fitzgerald decreased their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Shares of TSLA opened at $322.27 on Friday. The company's 50 day simple moving average is $319.07 and its 200-day simple moving average is $308.84. The firm has a market cap of $1.04 trillion, a PE ratio of 186.28, a price-to-earnings-growth ratio of 11.24 and a beta of 2.33. Tesla, Inc. has a 12-month low of $192.04 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 602,724 shares of company stock worth $214,176,831. Corporate insiders own 20.70% of the company's stock.

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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