Farther Finance Advisors LLC Boosts Holdings in Tesla, Inc. $TSLA

Key Points

• Farther Finance Advisors LLC increased its stake in Tesla, Inc. by 26.4% in Q2, bringing its total holdings to 58,230 shares valued at approximately $18.5 million.
• Tesla reported earnings of $0.40 per share for the last quarter, missing estimates and showing an 11.8% decline in revenue year-over-year, totaling $22.50 billion.
• Despite recent earnings misses, analysts remain mostly positive, with a consensus rating of "Hold" and various price targets revised upward, reflecting continued investor interest in the stock.

Farther Finance Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 58,230 shares of the electric vehicle producer's stock after purchasing an additional 12,167 shares during the period. Farther Finance Advisors LLC's holdings in Tesla were worth $18,498,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Tesla during the first quarter worth $3,247,619,000. GAMMA Investing LLC lifted its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its position in shares of Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Finally, Amundi increased its stake in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $7.03 during mid-day trading on Tuesday, hitting $427.18. 62,623,596 shares of the company's stock traded hands, compared to its average volume of 103,129,625. The company's 50-day moving average is $343.03 and its two-hundred day moving average is $309.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market capitalization of $1.42 trillion, a P/E ratio of 246.97, a PEG ratio of 14.86 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 announced its 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 net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last ninety days. 19.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. UBS Group reiterated a "sell" rating on shares of Tesla in a report on Monday. Finally, Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $326.74.

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.