Foster Group Inc. Has $2.27 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Foster Group Inc. increased its stake in Tesla by 14.7%, now owning 7,142 shares valued at approximately $2.27 million.
• Tesla reported earnings per share of $0.40 for the last quarter, missing estimates and witnessing an 11.8% decline in revenue year-over-year.
• In recent insider trading, Director James R. Murdoch sold 60,000 shares for over $25 million, indicating reduced insider ownership levels.

Foster Group Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,142 shares of the electric vehicle producer's stock after purchasing an additional 916 shares during the period. Foster Group Inc.'s holdings in Tesla were worth $2,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 44 shares during the period. First PREMIER Bank increased its stake in 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 buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its stake in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 1.9%

Tesla stock traded up $8.14 during mid-day trading on Monday, reaching $434.21. The stock had a trading volume of 96,526,944 shares, compared to its average volume of 86,280,128. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market capitalization of $1.44 trillion, a PE ratio of 250.99, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock's 50-day simple moving average is $343.03 and its 200-day simple moving average is $309.87.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was 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 in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 over the last three months. Company insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Stifel Nicolaus set a $440.00 target price on Tesla in a research note on Friday, September 5th. Dbs Bank lifted their price target on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. CICC Research upped their price target on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $324.53.

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.