Headlands Technologies LLC Invests $9.78 Million in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Headlands Technologies LLC acquired a new position in Tesla, Inc. by purchasing 37,743 shares worth approximately $9.78 million, making it 1.1% of their portfolio.
• Tesla's earnings report revealed an EPS of $0.40, missing the estimated $0.43, with quarterly revenue of $22.50 billion, down 11.8% from the previous year.
• Despite a mix of ratings from analysts, Tesla maintains a consensus target price of $303.31, while several firms have set varying price targets, with a high of $450.00.

Headlands Technologies LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 37,743 shares of the electric vehicle producer's stock, valued at approximately $9,781,000. Tesla comprises 1.1% of Headlands Technologies LLC's investment portfolio, making the stock its 13th largest position.

Other hedge funds have also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing 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 worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC lifted its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TSLA shares. Mizuho dropped their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group cut their price objective on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a report on Friday, July 11th. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Finally, Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock worth $214,176,831 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA traded up $7.34 during mid-day trading on Friday, reaching $329.61. 90,979,625 shares of the stock were exchanged, compared to its average volume of 89,568,456. The company has a market capitalization of $1.06 trillion, a P/E ratio of 190.53, a P/E/G ratio of 11.32 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. The business's 50 day moving average is $318.68 and its 200-day moving average is $308.19. Tesla, Inc. has a 1 year low of $194.67 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations 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 in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.