Intech Investment Management LLC Acquires 154,805 Shares of Tesla, Inc. $TSLA

Key Points

• Intech Investment Management LLC increased its shareholding in Tesla, Inc. by 46.3%, acquiring an additional 154,805 shares, bringing its total to 489,161 shares, valued at $126.77 million.
• Insider transactions included Director James R. Murdoch selling 120,000 shares for approximately $42 million, representing a 14.69% decrease in his ownership.
• Wall Street analysts have varied ratings for Tesla, with an average rating of "Hold" and an average target price of $303.00, amidst recent performance declines in earnings and revenue.

Intech Investment Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 489,161 shares of the electric vehicle producer's stock after buying an additional 154,805 shares during the period. Tesla makes up about 1.3% of Intech Investment Management LLC's portfolio, making the stock its 8th largest position. Intech Investment Management LLC's holdings in Tesla were worth $126,771,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank raised 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 valued at $25,000 after purchasing an additional 42 shares during the last quarter. Pacific Center for Financial Services raised its holdings in shares of Tesla by 1,616.7% in the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock valued at $42,000 after purchasing an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the first quarter valued at about $27,000. Finally, Newton One Investments LLC raised 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 valued at $27,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,606 shares of company stock worth $49,581,812 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday. China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Bank of America increased their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, HSBC restated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $303.00.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $346.97 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.12 trillion, a PE ratio of 200.56, a P/E/G ratio of 12.08 and a beta of 2.06. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a 50-day moving average price of $325.50 and a two-hundred day moving average price of $302.26.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.

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