Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Evermay Wealth Management LLC

Key Points

• Evermay Wealth Management LLC increased its ownership in Tesla by 121.0% during the first quarter by purchasing an additional 1,884 shares, bringing their total to 3,441 shares valued at approximately $892,000.
• Institutional investors collectively hold 66.20% of Tesla's stock, with several other hedge funds also increasing their stakes recently.
• Tesla's latest earnings report for the quarter revealed an EPS of $0.40, which missed projections, and their quarterly revenue decreased by 11.8% compared to the same period last year.

Evermay Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 121.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,441 shares of the electric vehicle producer's stock after buying an additional 1,884 shares during the quarter. Evermay Wealth Management LLC's holdings in Tesla were worth $892,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Eagle Capital Management LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $331,000. Brighton Jones LLC lifted its position 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 worth $35,509,000 after purchasing an additional 9,293 shares during the period. 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. Mascagni Wealth Management Inc. purchased a new stake in Tesla during the fourth quarter valued at approximately $346,000. Finally, Highview Capital Management LLC DE purchased a new position in shares of Tesla in the fourth quarter worth $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Down 2.9%

Shares of Tesla stock traded down $9.10 during mid-day trading on Thursday, hitting $309.94. 65,510,058 shares of the stock were exchanged, compared to its average volume of 107,886,180. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock has a market capitalization of $999.71 billion, a price-to-earnings ratio of 179.72, a price-to-earnings-growth ratio of 11.28 and a beta of 2.39. The company has a 50-day simple moving average of $323.61 and a 200 day simple moving average of $313.14. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly 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). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSLA shares. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Glj Research reiterated a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Finally, Barclays cut their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus 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.