Faithward Advisors LLC Acquires 790 Shares of Tesla, Inc. $TSLA

Key Points

• Faithward Advisors LLC increased its holdings in Tesla by 31.5%, now owning 3,297 shares valued at approximately $855,000 after acquiring an additional 790 shares.
• Several institutional investors saw significant increases in their stakes in Tesla during the first quarter, with MBB Public Markets I LLC increasing by 234.9% and RNC Capital Management LLC by 232.5%.
• Tesla reported a drop in revenue of 11.8% year-over-year, missing earnings estimates with $0.40 EPS against a consensus of $0.43, while the company has a current market cap of $1.12 trillion.

Faithward Advisors LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,297 shares of the electric vehicle producer's stock after purchasing an additional 790 shares during the period. Faithward Advisors LLC's holdings in Tesla were worth $855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MBB Public Markets I LLC increased its stake in shares of Tesla by 234.9% during the first quarter. MBB Public Markets I LLC now owns 1,349 shares of the electric vehicle producer's stock valued at $350,000 after purchasing an additional 2,349 shares in the last quarter. Ascent Group LLC increased its stake in shares of Tesla by 86.4% during the first quarter. Ascent Group LLC now owns 26,988 shares of the electric vehicle producer's stock valued at $6,994,000 after purchasing an additional 12,509 shares in the last quarter. RNC Capital Management LLC increased its stake in shares of Tesla by 232.5% during the first quarter. RNC Capital Management LLC now owns 9,977 shares of the electric vehicle producer's stock valued at $2,586,000 after purchasing an additional 6,976 shares in the last quarter. Empirical Capital Management LLC bought a new position in shares of Tesla during the first quarter valued at approximately $777,000. Finally, United Services Automobile Association increased its stake in shares of Tesla by 0.9% during the first quarter. United Services Automobile Association now owns 64,752 shares of the electric vehicle producer's stock valued at $17,065,000 after purchasing an additional 558 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,000 shares of company stock worth $48,663,510 in the last three months. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TSLA shares. Canaccord Genuity Group increased their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. HSBC reiterated a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Finally, William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.00.

Tesla Trading Down 1.3%

Shares of TSLA stock opened at $346.40 on Tuesday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. 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 firm's 50 day moving average is $324.57 and its 200 day moving average is $301.95. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 200.23, a P/E/G ratio of 12.24 and a beta of 2.06.

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 for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

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.