Deutsche Bank AG Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

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 raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 portfolio, making the stock its 13th largest holding. Deutsche Bank AG owned approximately 0.31% of Tesla worth $2,611,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Roof Eidam Maycock Peralta LLC increased its holdings in Tesla by 2.2% during the 1st quarter. Roof Eidam Maycock Peralta LLC now owns 2,370 shares of the electric vehicle producer's stock worth $614,000 after acquiring an additional 50 shares during the period. Chicago Partners Investment Group LLC boosted its holdings 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 during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tesla by 4.9% during 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 holdings in shares of Tesla by 85.7% in the first quarter. Evolution Wealth Advisors LLC now owns 13,109 shares of the electric vehicle producer's stock worth $3,397,000 after purchasing an additional 6,048 shares during the period. Finally, Coign Capital Advisors LLC raised its position in shares of Tesla by 8.5% in the first quarter. Coign Capital Advisors LLC now owns 2,187 shares of the electric vehicle producer's stock worth $567,000 after buying an additional 172 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock traded up $7.34 during trading hours on Friday, reaching $329.61. 90,979,625 shares of the stock traded hands, compared to its average volume of 89,568,456. Tesla, Inc. has a one year low of $194.67 and a one year high of $488.54. The firm has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.53, a P/E/G ratio of 11.32 and a beta of 2.33. 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 company has a 50 day moving average price of $319.07 and a 200 day moving average price of $308.84.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The business's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Cantor Fitzgerald reduced their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. 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 research note on Monday, July 21st. The Goldman Sachs Group dropped their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Finally, Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 602,724 shares of company stock worth $214,176,831. 20.70% of the stock is currently 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.