Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Tesla, Inc. by 20.8%, owning over 10 million shares valued at approximately $2.61 billion, making it the bank's 13th largest position.
• Tesla's stock performance shows a trading volume of over 66 million shares, with a current market cap of $1.04 trillion, despite a recent earnings miss where EPS was $0.40 against an expected $0.43.
• Insider trading revealed that two directors sold significant portions of their holdings, with total sales exceeding $215 million in the past 90 days, indicating potential shifts in confidence among insiders.

Deutsche Bank AG grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,076,461 shares of the electric vehicle producer's stock after buying an additional 1,733,531 shares during the quarter. Tesla comprises 1.0% of Deutsche Bank AG's investment portfolio, making the stock its 13th biggest holding. Deutsche Bank AG owned 0.31% of Tesla worth $2,611,416,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Roof Eidam Maycock Peralta LLC increased its stake in Tesla by 2.2% in the 1st quarter. Roof Eidam Maycock Peralta LLC now owns 2,370 shares of the electric vehicle producer's stock valued at $614,000 after purchasing an additional 50 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Tesla by 12.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 16,896 shares of the electric vehicle producer's stock valued at $4,667,000 after purchasing an additional 1,806 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Evolution Wealth Advisors LLC increased its stake in Tesla by 85.7% in the 1st quarter. Evolution Wealth Advisors LLC now owns 13,109 shares of the electric vehicle producer's stock valued at $3,397,000 after purchasing an additional 6,048 shares in the last quarter. Finally, Coign Capital Advisors LLC increased its stake in Tesla by 8.5% in the 1st quarter. Coign Capital Advisors LLC now owns 2,187 shares of the electric vehicle producer's stock valued at $567,000 after purchasing an additional 172 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 2.3%

Shares of NASDAQ TSLA traded up $7.34 during midday trading on Friday, reaching $329.61. 90,979,625 shares of the company's stock were exchanged, compared to its average volume of 89,568,456. Tesla, Inc. has a 52-week low of $194.67 and a 52-week high of $488.54. The stock has a market capitalization of $1.06 trillion, a PE ratio of 190.53, a price-to-earnings-growth ratio of 11.58 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 business's fifty day moving average price is $318.68 and its two-hundred day moving average price is $307.45.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Piper Sandler reissued an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Finally, Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average price target of $303.31.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 602,724 shares of company stock valued at $214,176,831 in the last three months. 20.70% of the stock is owned by insiders.

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.