Cheviot Value Management LLC Invests $771,000 in Tesla, Inc. (NASDAQ:TSLA)

Cheviot Value Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,752 shares of the electric vehicle producer's stock, valued at approximately $771,000.

A number of other large investors also recently modified their holdings of the business. FMR LLC lifted its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC lifted its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Northern Trust Corp lifted its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Tesla by 54.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after buying an additional 2,978,026 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Tesla by 65.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,937,475 shares of the electric vehicle producer's stock valued at $2,397,790,000 after buying an additional 2,350,065 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,119 shares of company stock valued at $246,186,549 in the last three months. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. HSBC restated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Roth Mkm dropped their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. 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 company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

Tesla stock opened at $302.63 on Friday. The firm's 50 day simple moving average is $322.22 and its 200-day simple moving average is $311.03. The company has a market cap of $976.12 billion, a P/E ratio of 174.93, a price-to-earnings-growth ratio of 10.63 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

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 the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the business earned $0.52 earnings per share. The business's revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.