Haverford Trust Co Boosts Holdings in Tesla, Inc. $TSLA

Key Points

• Haverford Trust Co increased its stake in Tesla by 47.1% in Q1, raising its holdings to 3,193 shares valued at $827,000.
• Several hedge funds have also significantly boosted their positions in Tesla, with Cherry Tree Wealth Management growing its holdings by 86.3%.
• Tesla reported Q2 earnings of $0.40 EPS, missing the consensus estimate of $0.43, with revenues of $22.5 billion, which was below expectations of $23.18 billion.

Haverford Trust Co lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,193 shares of the electric vehicle producer's stock after buying an additional 1,023 shares during the period. Haverford Trust Co's holdings in Tesla were worth $827,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% in the 1st 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 last quarter. First PREMIER Bank raised its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC raised its position in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter valued at $27,000. Finally, True Wealth Design LLC raised its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 6.2%

NASDAQ:TSLA opened at $340.01 on Friday. The stock has a fifty day moving average price of $321.27 and a two-hundred day moving average price of $303.08. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.82 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on TSLA. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Mizuho reduced their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. Finally, Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $303.31.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is owned by insiders.

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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