Gotham Asset Management LLC Acquires 29,398 Shares of Tesla, Inc. $TSLA

Key Points

• Gotham Asset Management LLC increased its stake in Tesla, Inc. by 43.0%, acquiring an additional 29,398 shares to bring its total holdings to 97,717 shares, valued at approximately $25.3 million.
• Tesla's recent quarterly earnings report showed an EPS of $0.40, missing analysts' expectations, with revenue reported at $22.50 billion, down 11.8% year-over-year.
• Wall Street analysts have mixed ratings on Tesla, with an average price target of $303.31, reflecting a cautious outlook in the market for the electric vehicle producer.

Gotham Asset Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,717 shares of the electric vehicle producer's stock after acquiring an additional 29,398 shares during the quarter. Gotham Asset Management LLC's holdings in Tesla were worth $25,324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Acorn Wealth Advisors LLC raised its holdings in 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 acquiring an additional 36 shares during the period. Solutions 4 Wealth Ltd raised its holdings in 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 acquiring an additional 36 shares during the period. Capital Management Associates Inc raised its holdings in 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 acquiring an additional 38 shares during the period. Graney & King LLC raised its holdings in 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 acquiring an additional 38 shares during the period. Finally, Mraz Amerine & Associates Inc. grew 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 owned by institutional investors.

Tesla Trading Up 1.3%

TSLA opened at $338.53 on Friday. The firm has a market cap of $1.09 trillion, a P/E ratio of 195.68, a P/E/G ratio of 11.66 and a beta of 2.06. Tesla, Inc. has a 12 month low of $210.51 and a 12 month high of $488.54. 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 stock has a 50-day moving average of $323.45 and a 200 day moving average of $302.67.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TSLA shares. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Guggenheim restated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. HSBC restated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Finally, Mizuho cut their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $303.31.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,564 shares of company stock valued at $49,396,070 over the last 90 days. Insiders own 20.70% of the company's stock.

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.

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