Integrity Alliance LLC. Acquires 19,552 Shares of Tesla, Inc. $TSLA

Key Points

• Integrity Alliance LLC significantly increased its stake in Tesla by acquiring 19,552 shares during the first quarter, raising its ownership by 1,213.7% and totaling $5.485 million in value.
• Many hedge funds, such as Cherry Tree Wealth Management and First PREMIER Bank, have also boosted their investments in Tesla, indicating a trend of increasing institutional interest in the company.
• Tesla reported a net margin of 6.54% and $22.50 billion in revenue for the last quarter, missing analyst expectations by 11.8%, with EPS at $0.40, slightly below the projected $0.43.

Integrity Alliance LLC. raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1,213.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,163 shares of the electric vehicle producer's stock after buying an additional 19,552 shares during the quarter. Integrity Alliance LLC.'s holdings in Tesla were worth $5,485,000 at the end of the most recent reporting period.

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 valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its stake 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 buying an additional 42 shares during the period. Pacific Center for Financial Services raised its stake 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 buying an additional 97 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter valued at $27,000. Finally, Newton One Investments LLC raised its stake 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 buying an additional 75 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Tesla stock opened at $346.97 on Wednesday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The business has a 50-day simple moving average of $325.50 and a 200 day simple moving average of $302.26. 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 stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 200.56, a PEG ratio of 12.08 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla 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 owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was 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 trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,606 shares of company stock valued at $49,581,812 over the last 90 days. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Canaccord Genuity Group boosted their target price on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Benchmark reiterated a "buy" rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research report on Friday. Finally, Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $303.00.

Tesla Company 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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