Candriam S.C.A. Raises Stake in Tesla, Inc. $TSLA

Key Points

• Candriam S.C.A. has increased its stake in Tesla, Inc. by 9.6%, acquiring a total of 515,989 shares, which is valued at approximately $133.7 million.
• Several institutional investors have also raised their positions in Tesla, indicating a growing interest among hedge funds, which now own 66.2% of the company's stock.
• A recent analysis shows mixed ratings for Tesla with a consensus rating of "Hold" and an average price target of $303.31; however, earnings reports indicate a decline in revenue and earnings per share from the previous year.

Candriam S.C.A. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 515,989 shares of the electric vehicle producer's stock after purchasing an additional 44,998 shares during the period. Tesla accounts for 0.8% of Candriam S.C.A.'s investment portfolio, making the stock its 26th largest position. Candriam S.C.A.'s holdings in Tesla were worth $133,724,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rinkey Investments boosted its stake in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC lifted 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 during the last quarter. Aldebaran Financial Inc. lifted its stake in shares of Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC lifted its stake in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. Finally, Solutions 4 Wealth Ltd lifted its stake in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TSLA shares. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. HSBC reiterated a "reduce" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Sunday. Finally, JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. One 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $303.31.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction 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 represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's 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 in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% 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 quarter. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock opened at $329.31 on Wednesday. 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 market capitalization of $1.06 trillion, a PE ratio of 190.35, a P/E/G ratio of 11.65 and a beta of 2.33. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. The business's fifty day moving average price is $321.01 and its 200 day moving average price is $304.26.

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

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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