CW Advisors LLC Purchases 19,607 Shares of Tesla, Inc. $TSLA

Key Points

• CW Advisors LLC significantly increased its stake in Tesla, Inc. by 228.3%, acquiring 19,607 additional shares, bringing their total holdings to 28,196 shares valued at $7.39 million.
• Other institutional investors, including Goldman Sachs and Vanguard Group, also made substantial changes to their Tesla holdings, indicating growing interest in the electric vehicle producer.
• Tesla's quarterly earnings report revealed a missed earnings estimate with earnings per share of $0.40 compared to the expected $0.43, alongside a year-over-year revenue decline of 11.8%.

CW Advisors LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 228.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,196 shares of the electric vehicle producer's stock after acquiring an additional 19,607 shares during the period. CW Advisors LLC's holdings in Tesla were worth $7,394,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in shares of Tesla in the first quarter valued at approximately $3,247,619,000. GAMMA Investing LLC boosted its stake in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Northern Trust Corp boosted its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents 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, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was 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 in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Piper Sandler restated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Finally, UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $303.31.

Tesla Stock Up 6.2%

Shares of TSLA opened at $340.01 on Friday. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.13 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a fifty day moving average of $321.27 and a 200-day moving average of $303.60.

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 for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.

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