CreativeOne Wealth LLC Increases Holdings in Tesla, Inc. $TSLA

Key Points

• CreativeOne Wealth LLC increased its holdings in Tesla, Inc. by 18.3% during the first quarter, bringing their total shares to 51,578, valued at $13,367,000.
• Tesla's recent quarterly earnings reported a miss on analysts' estimates, with earnings per share of $0.40 against a consensus of $0.43, and revenues down 11.8% year-over-year.
• Institutional investors now own 66.20% of Tesla's stock, reflecting significant interest and activity from various hedge funds adjusting their stakes in the company.

CreativeOne Wealth LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,578 shares of the electric vehicle producer's stock after acquiring an additional 7,993 shares during the period. CreativeOne Wealth LLC's holdings in Tesla were worth $13,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Means Investment CO. Inc. increased its stake in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its stake in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. Keystone Global Partners LLC acquired a new position in Tesla during the first quarter worth approximately $594,000. IFM Investors Pty Ltd raised its position in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $8,158,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Tesla stock opened at $351.67 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a fifty day moving average price of $322.32 and a two-hundred day moving average price of $302.82. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a market cap of $1.13 trillion, a PE ratio of 203.28, a P/E/G ratio of 12.05 and a beta of 2.33.

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 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 analyst estimates of $23.18 billion. During the same period last year, the business earned $0.52 EPS. The firm's revenue was down 11.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,564 shares of company stock worth $9,757,390. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $303.31.

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.

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