Jacobsen Capital Management Has $1.79 Million Stake in Tesla, Inc. $TSLA

Key Points

• Jacobsen Capital Management increased its stake in Tesla, Inc. by 28.8% during the second quarter, now holding 5,627 shares valued at approximately $1.79 million.
• Tesla reported earnings per share of $0.40 in its recent quarterly earnings, falling short of the consensus estimate of $0.43, alongside a revenue drop of 11.8% year-over-year.
• Institutional investors now own 66.20% of Tesla's stock, showcasing a significant interest from major hedge funds like Vanguard and Goldman Sachs that have also increased their holdings.

Jacobsen Capital Management grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,627 shares of the electric vehicle producer's stock after purchasing an additional 1,258 shares during the period. Tesla makes up approximately 0.7% of Jacobsen Capital Management's investment portfolio, making the stock its 19th largest holding. Jacobsen Capital Management's holdings in Tesla were worth $1,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the last quarter. Amundi boosted its stake in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after acquiring an additional 2,211,300 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 1.1%

Shares of Tesla stock opened at $442.60 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The business has a fifty day simple moving average of $391.74 and a two-hundred day simple moving average of $336.26. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 255.84, a P/E/G ratio of 16.08 and a beta of 2.08.

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 for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company 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%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TSLA shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $355.00 target price on shares of Tesla in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Wedbush reissued an "outperform" rating and issued a $600.00 price objective on shares of Tesla in a report on Monday. Mizuho raised their target price on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Finally, Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $363.54.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction on 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

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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