First National Advisers LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• First National Advisers LLC increased its stake in Tesla by 64.4%, owning 11,731 shares valued at approximately $3.04 million as of the latest SEC filing.
• Tesla's most recent earnings report showed $0.40 earnings per share (EPS), missing estimates, and revenue dropped 11.8% year-over-year.
• Analyst ratings for Tesla are mixed, with an average price target of $302.75 and several analysts setting new price targets, including a downgrade to "outperform" by Raymond James Financial.

First National Advisers LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 64.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,731 shares of the electric vehicle producer's stock after purchasing an additional 4,594 shares during the period. First National Advisers LLC's holdings in Tesla were worth $3,040,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. 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 valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the first quarter worth about $27,000. Finally, True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 31 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

TSLA opened at $316.06 on Friday. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a price-to-earnings-growth ratio of 12.00 and a beta of 2.39. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $324.70 and a two-hundred day simple moving average of $314.09.

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). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Tuesday, July 22nd. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Raymond James Financial downgraded Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $302.75.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last ninety days. Corporate 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.

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