Ethic Inc. Raises Holdings in Tesla, Inc. $TSLA

Key Points

• Ethic Inc. increased its Tesla stake by 5.9%, holding 156,885 shares worth approximately $50.77 million, making it the firm's 12th largest investment.
• Several major investors, including Brighton Jones LLC and Bison Wealth LLC, also increased their holdings in Tesla recently, indicating a trend among institutional investors.
• Tesla's most recent quarterly earnings report showed $22.50 billion in revenue, missing expectations, and earnings per share of $0.40, below analysts' consensus of $0.43.

Ethic Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,885 shares of the electric vehicle producer's stock after buying an additional 8,708 shares during the period. Tesla accounts for about 0.9% of Ethic Inc.'s investment portfolio, making the stock its 12th biggest holding. Ethic Inc.'s holdings in Tesla were worth $50,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in TSLA. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC boosted its stake in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after acquiring an additional 3,558 shares in the last quarter. GAMMA Investing LLC grew its holdings in Tesla by 6.0% in the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer's stock worth $9,812,000 after purchasing an additional 2,153 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Tesla in the 1st quarter worth $464,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 0.1%

Shares of TSLA opened at $442.33 on Wednesday. The stock has a market cap of $1.47 trillion, a PE ratio of 255.68, a price-to-earnings-growth ratio of 16.08 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm's fifty day moving average is $391.74 and its two-hundred day moving average is $336.26. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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 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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The business's quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. Evercore ISI upped their target price on Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a research report on Monday, October 13th. The Goldman Sachs Group raised their price target on shares of Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. CICC Research raised their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Mizuho lifted their price target on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Finally, Melius Research set a $520.00 price target on Tesla and gave the stock a "buy" rating in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company's stock. According to MarketBeat, Tesla has an average rating of "Hold" and an average target price of $363.54.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

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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