Tesla, Inc. (NASDAQ:TSLA) is Invesco Ltd.'s 9th Largest Position

Key Points

• Invesco Ltd. increased its holdings in Tesla, Inc. by 17.6% in the first quarter, owning approximately 14.8 million shares valued at $3.83 billion.
• Other hedge funds, including Vanguard Group and Goldman Sachs, also increased their stakes in Tesla, reflecting growing institutional interest in the company.
• Tesla reported earnings of $0.40 per share for the last quarter, missing analysts' expectations and marking an 11.8% year-over-year revenue decline.

Invesco Ltd. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,786,414 shares of the electric vehicle producer's stock after purchasing an additional 2,211,300 shares during the period. Tesla comprises 0.7% of Invesco Ltd.'s holdings, making the stock its 9th largest position. Invesco Ltd. owned approximately 0.46% of Tesla worth $3,832,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TSLA. Berger Financial Group Inc grew its holdings in Tesla by 8.8% during the first quarter. Berger Financial Group Inc now owns 13,253 shares of the electric vehicle producer's stock worth $3,435,000 after purchasing an additional 1,074 shares during the period. Pandora Wealth Inc. acquired a new position in Tesla during the first quarter valued at approximately $259,000. Sierra Summit Advisors LLC grew its stake in shares of Tesla by 2.0% during the first quarter. Sierra Summit Advisors LLC now owns 47,312 shares of the electric vehicle producer's stock worth $12,261,000 after buying an additional 913 shares during the last quarter. True North Advisors LLC grew its stake in shares of Tesla by 8.8% during the first quarter. True North Advisors LLC now owns 3,774 shares of the electric vehicle producer's stock worth $978,000 after buying an additional 306 shares during the last quarter. Finally, JFG Wealth Management LLC grew its stake in shares of Tesla by 5.9% during the first quarter. JFG Wealth Management LLC now owns 4,476 shares of the electric vehicle producer's stock worth $1,160,000 after buying an additional 250 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TSLA shares. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Bank of America boosted their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Finally, Raymond James Financial lowered shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Up 2.3%

TSLA stock traded up $7.34 during mid-day trading on Friday, hitting $329.61. The stock had a trading volume of 90,979,625 shares, compared to its average volume of 89,568,456. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.53, a PEG ratio of 11.58 and a beta of 2.33. The company has a fifty day moving average of $318.68 and a 200 day moving average of $307.45. 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 issued 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 the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

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

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.