Geneos Wealth Management Inc. Has $6.56 Million Stock Position in Tesla, Inc. $TSLA

Key Points

• Geneos Wealth Management Inc. increased its stake in Tesla, Inc. by 27.8% in the first quarter, acquiring a total of 25,301 shares valued at approximately $6.56 million.
• A variety of other hedge funds also adjusted their holdings in Tesla during the first quarter, reflecting a general trend of increased institutional investment in the company.
• Tesla's latest quarterly earnings reported an EPS of $0.40, missing analyst expectations of $0.43, with revenues of $22.50 billion, down 11.8% year-over-year.

Geneos Wealth Management Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,301 shares of the electric vehicle producer's stock after buying an additional 5,498 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Tesla were worth $6,557,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Acorn Wealth Advisors LLC grew its holdings in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after buying an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd lifted its position in shares of Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after purchasing an additional 36 shares in the last quarter. Capital Management Associates Inc lifted its position in shares of Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after purchasing an additional 38 shares in the last quarter. Graney & King LLC lifted its position in shares of Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after purchasing an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. lifted its position in shares of Tesla by 3.8% during the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock valued at $278,000 after purchasing an additional 39 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on TSLA. William Blair reissued a "market perform" rating on shares of Tesla in a research report on Friday. China Renaissance reissued a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Robert W. Baird reissued a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Finally, Morgan Stanley reissued an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $303.00.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were 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 approximately $1,735,080.36. The trade was 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 accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,606 shares of company stock valued at $49,581,812. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $346.97 on Wednesday. The company's 50 day moving average is $325.50 and its 200-day moving average is $302.26. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.12 trillion, a P/E ratio of 200.56, a price-to-earnings-growth ratio of 12.08 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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