Jacobs Levy Equity Management Inc. Has $26.68 Million Position in Tesla, Inc. $TSLA

Key Points

• Jacobs Levy Equity Management Inc. has significantly decreased its ownership in Tesla by 63.9%, now holding 102,958 shares valued at approximately $26.68 million after selling 182,163 shares.
• Tesla's recent quarterly earnings report showed an EPS of $0.40, missing the expected $0.43, and revenue of $22.50 billion, down 11.8% year-over-year.
• Several analysts have set new price targets for Tesla stock, with Bank of America increasing its target from $305 to $341, while HSBC set a lower target of $120, reflecting mixed outlooks on the stock.

Jacobs Levy Equity Management Inc. decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 63.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,958 shares of the electric vehicle producer's stock after selling 182,163 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Tesla were worth $26,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased 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 increased 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. Newton One Investments LLC lifted its holdings in 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. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter valued at $27,000. Finally, Centennial Bank AR lifted its holdings in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 3.6%

TSLA stock opened at $350.84 on Friday. The stock's 50 day simple moving average is $324.00 and its 200 day simple moving average is $302.65. Tesla, Inc. has a fifty-two week low of $210.51 and a fifty-two week high of $488.54. 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 company has a market cap of $1.13 trillion, a P/E ratio of 202.80, a price-to-earnings-growth ratio of 11.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TSLA shares. Bank of America boosted 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. HSBC reaffirmed a "reduce" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on 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 in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on 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 owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,564 shares of company stock worth $49,396,070. 20.70% of the stock is owned by corporate insiders.

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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