Great Lakes Advisors LLC Has $5.80 Million Stake in Tesla, Inc. $TSLA

Key Points

• Great Lakes Advisors LLC has reduced its stake in Tesla by 4.1%, now holding 22,236 shares valued at approximately $5.8 million.
• Institutional investors collectively own 66.20% of Tesla's stock, while various hedge funds, including Cherry Tree Wealth Management LLC and First PREMIER Bank, have recently increased their positions significantly.
• Tesla's recent earnings report showed an EPS of $0.40, missing estimates, with quarterly revenue down 11.8% year-over-year, highlighting ongoing challenges for the company.

Great Lakes Advisors LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,236 shares of the electric vehicle producer's stock after selling 953 shares during the quarter. Great Lakes Advisors LLC's holdings in Tesla were worth $5,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter worth about $27,000. Finally, Centennial Bank AR increased its holdings in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stifel Nicolaus set a $440.00 price objective on Tesla in a report on Friday. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Guggenheim reiterated a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. China Renaissance restated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Finally, UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $303.00.

Tesla Stock Performance

NASDAQ:TSLA opened at $346.97 on Wednesday. The stock has a market cap of $1.12 trillion, a P/E ratio of 200.56, a PEG ratio of 12.08 and a beta of 2.06. The stock has a 50 day simple moving average of $325.50 and a 200 day simple moving average of $302.26. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

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). 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 business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly 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 disclosure for this sale can be found here. Insiders sold 143,606 shares of company stock valued at $49,581,812 in the last three months. Corporate insiders own 20.70% of the company's stock.

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.

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