Clarus Group Inc. Acquires 1,752 Shares of Tesla, Inc. $TSLA

Key Points

• Clarus Group Inc. increased its holdings in Tesla by 87.9%, acquiring an additional 1,752 shares during the 2nd quarter, bringing its total ownership to 3,745 shares, valued at about $1.19 million.
• Tesla reported $0.40 earnings per share for the recent quarter, missing analysts' expectations of $0.43, with a total revenue of $22.50 billion compared to the forecast of $23.18 billion.
• Institutional investors currently hold 66.20% of Tesla's stock, with several firms notably increasing their stakes, revealing a strong institutional interest in the company.

Clarus Group Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 87.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,745 shares of the electric vehicle producer's stock after purchasing an additional 1,752 shares during the quarter. Tesla makes up 0.4% of Clarus Group Inc.'s investment portfolio, making the stock its 29th biggest holding. Clarus Group Inc.'s holdings in Tesla were worth $1,190,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of TSLA opened at $442.79 on Thursday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The business's fifty day moving average is $347.75 and its 200 day moving average is $311.58. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.47 trillion, a P/E ratio of 255.95, a P/E/G ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the business posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Mizuho upped their price target on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and upped their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Finally, Wedbush restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $326.74.

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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