Everstar Asset Management LLC Makes New $1.28 Million Investment in Tesla, Inc. $TSLA

Key Points

• Everstar Asset Management LLC purchased 4,954 shares of Tesla, Inc., estimated at $1.28 million, during the first quarter, reflecting continued interest in the electric vehicle manufacturer.
• Several large institutional investors, including Goldman Sachs and Vanguard Group, increased their holdings in Tesla significantly, with Goldman Sachs raising its stake by 322.1%.
• Despite the activity among institutional investors, Tesla’s most recent earnings report showed a revenue decline of 11.8% year-over-year, and the company missed EPS estimates, reporting $0.40 against a consensus of $0.43.

Everstar Asset Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 4,954 shares of the electric vehicle producer's stock, valued at approximately $1,284,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Brighton Jones LLC increased its stake in 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 during the last quarter. Revolve Wealth Partners LLC increased its stake in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Tesla in the 4th quarter valued at about $346,000. Highview Capital Management LLC DE purchased a new stake in Tesla in the 4th quarter valued at about $2,367,000. Finally, Bison Wealth LLC increased its stake in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. HSBC restated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Mizuho decreased their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. UBS Group set a $290.00 price target on shares of Tesla in a research note on Monday, June 30th. Finally, Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $303.00.

Tesla Stock Up 0.2%

Shares of TSLA stock traded up $0.57 during midday trading on Tuesday, reaching $346.97. 53,656,774 shares of the stock were exchanged, compared to its average volume of 71,396,432. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $324.57 and its two-hundred day moving average is $301.95. The firm has a market cap of $1.12 trillion, a PE ratio of 200.56, a price-to-earnings-growth ratio of 12.08 and a beta of 2.06. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,000 shares of company stock worth $48,663,510. Insiders own 20.70% of the company's stock.

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.