Gamco Investors INC. ET AL Has $5.91 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Gamco Investors INC. ET AL increased its stake in Tesla by 48.7% during the first quarter, now holding shares worth $5.91 million.
• Several institutional investors have also raised their positions in Tesla, with Goldman Sachs Group Inc. boosting its stake by 322.1% in the same quarter.
• Tesla reported earnings of $0.40 per share for the last quarter, missing expectations and experiencing an 11.8% decline in revenue year-over-year.

Gamco Investors INC. ET AL boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 48.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,804 shares of the electric vehicle producer's stock after purchasing an additional 7,469 shares during the period. Gamco Investors INC. ET AL's holdings in Tesla were worth $5,910,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tesla by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after purchasing an additional 158,697 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock opened at $349.60 on Thursday. 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 fifty day moving average price is $322.87 and its 200-day moving average price is $303.14. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The stock has a market cap of $1.13 trillion, a PE ratio of 202.08, a price-to-earnings-growth ratio of 12.23 and a beta of 2.33.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Piper Sandler reiterated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Finally, Robert W. Baird reissued a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $303.31.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 30,564 shares of company stock valued at $9,757,390 over the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Company 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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