Granite Harbor Advisors Inc. Acquires Shares of 813 Tesla, Inc. $TSLA

Key Points

• Granite Harbor Advisors Inc. has acquired a new stake in Tesla, Inc., purchasing 813 shares valued at approximately $211,000 during the first quarter.
• Other institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have increased their holdings in Tesla, showing a strong interest in the company's stock.
• Despite the interest from big investors, Tesla reported earnings of $0.40 per share for the last quarter, missing estimates, and experienced an 11.8% decline in quarterly revenue compared to the previous year.

Granite Harbor Advisors Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 813 shares of the electric vehicle producer's stock, valued at approximately $211,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Northern Trust Corp boosted its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tesla by 0.7% during 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 buying an additional 158,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock opened at $330.56 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.07 trillion, a PE ratio of 191.08, a price-to-earnings-growth ratio of 11.49 and a beta of 2.33. The firm has a fifty day moving average price of $320.41 and a two-hundred day moving average price of $304.57. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 599,724 shares of company stock valued at $213,126,501. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Guggenheim reiterated a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Mizuho lowered their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Canaccord Genuity Group upped their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $303.31.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.