Endeavor Private Wealth Inc. Invests $226,000 in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Endeavor Private Wealth Inc. invested $226,000 in Tesla by acquiring 872 shares in the first quarter, signaling confidence in the electric vehicle producer.
• Institutional investors and hedge funds collectively own 66.20% of Tesla's stock, with several firms significantly increasing their stakes in the recent quarter.
• Despite reporting a missed earnings target and a year-over-year revenue decline of 11.8%, Tesla's stock has received mixed ratings from analysts, with a consensus rating of "Hold".

Endeavor Private Wealth Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 872 shares of the electric vehicle producer's stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TIAA Trust National Association raised its position in shares of Tesla by 2.8% in the 1st quarter. TIAA Trust National Association now owns 95,704 shares of the electric vehicle producer's stock worth $24,803,000 after acquiring an additional 2,639 shares in the last quarter. Signature Wealth Management Partners LLC increased its holdings in Tesla by 229.3% in the first quarter. Signature Wealth Management Partners LLC now owns 1,699 shares of the electric vehicle producer's stock worth $440,000 after purchasing an additional 1,183 shares in the last quarter. Headland Capital LLC increased its holdings in Tesla by 4.2% in the first quarter. Headland Capital LLC now owns 1,158 shares of the electric vehicle producer's stock worth $300,000 after purchasing an additional 47 shares in the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Tesla by 172.9% during the 1st quarter. Baker Avenue Asset Management LP now owns 66,609 shares of the electric vehicle producer's stock worth $17,262,000 after buying an additional 157,969 shares in the last quarter. Finally, Mengis Capital Management Inc. grew its position in shares of Tesla by 31.4% during the 1st quarter. Mengis Capital Management Inc. now owns 942 shares of the electric vehicle producer's stock worth $244,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TSLA shares. Canaccord Genuity Group lifted their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a report on Tuesday. Finally, Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Trading Down 1.8%

NASDAQ TSLA opened at $302.63 on Friday. 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's 50-day simple moving average is $322.22 and its two-hundred day simple moving average is $311.84. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a market capitalization of $976.12 billion, a price-to-earnings ratio of 174.93, a PEG ratio of 10.83 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% 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 stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.