Ieq Capital LLC Purchases 156,300 Shares of Tesla, Inc. $TSLA

Key Points

• Ieq Capital LLC increased its position in Tesla by 65.1%, acquiring an additional 156,300 shares, bringing its total to 396,485 shares valued at approximately $102.8 million.
• Insiders at Tesla sold a total of 30,564 shares worth nearly $9.8 million over the last quarter, indicating significant changes in ownership among company executives.
• Tesla's stock is currently trading at $351.67 per share, with a market capitalization of $1.13 trillion, while recent earnings reports show a decline in year-over-year revenues.

Ieq Capital LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 65.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 396,485 shares of the electric vehicle producer's stock after purchasing an additional 156,300 shares during the quarter. Tesla comprises about 0.8% of Ieq Capital LLC's investment portfolio, making the stock its 21st largest position. Ieq Capital LLC's holdings in Tesla were worth $102,753,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Eagle Capital Management LLC acquired a new position in shares of Tesla during the fourth quarter valued at $331,000. Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Tesla in the fourth quarter valued at about $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla in the fourth quarter valued at about $2,367,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 1.0%

Tesla stock traded down $3.62 during midday trading on Thursday, reaching $345.98. The stock had a trading volume of 67,693,950 shares, compared to its average volume of 76,979,280. The firm's fifty day simple moving average is $323.35 and its 200-day simple moving average is $303.11. Tesla, Inc. has a 1-year low of $205.97 and a 1-year high of $488.54. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 199.99, a price-to-earnings-growth ratio of 12.15 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 (NASDAQ:TSLA - Get Free Report) last posted 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 company 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 revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,564 shares of company stock valued at $51,792,190 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. HSBC reiterated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Bank of America upped their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.