Ethos Financial Group LLC Grows Stock Position in Tesla, Inc. $TSLA

Key Points

• Ethos Financial Group LLC increased its stake in Tesla, Inc. by 132.9%, owning 11,612 shares valued at $3,009,000 after acquiring an additional 6,626 shares in Q1.
• Goldman Sachs raised its Tesla holdings by 322.1%, now owning 26,590,525 shares worth approximately $6.89 billion after acquiring 20 million more shares in the same quarter.
• Tesla's recent quarterly earnings showed 0.40 earnings per share, missing analyst estimates, with revenues at $22.50 billion, down 11.8% year-over-year.

Ethos Financial Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 132.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,612 shares of the electric vehicle producer's stock after purchasing an additional 6,626 shares during the period. Ethos Financial Group LLC's holdings in Tesla were worth $3,009,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Navigoe LLC purchased a new position in Tesla during the fourth quarter worth about $37,000. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank boosted its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla during the fourth quarter worth about $39,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, 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 position. 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 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at $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 have sold a total of 599,724 shares of company stock valued at $213,126,501 over the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA traded down $5.85 during trading on Tuesday, hitting $329.31. The stock had a trading volume of 75,432,692 shares, compared to its average volume of 88,331,408. 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 firm has a market capitalization of $1.06 trillion, a P/E ratio of 190.35, a PEG ratio of 11.65 and a beta of 2.33. The company's 50-day moving average price is $320.95 and its 200 day moving average price is $304.09. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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). The firm 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 quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Roth Mkm lowered their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. UBS Group set a $290.00 price target on shares of Tesla in a research note on Monday, June 30th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research note on Sunday. Finally, Benchmark reissued a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $303.31.

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.