Kings Path Partners LLC Increases Stake in Tesla, Inc. $TSLA

Key Points

• Kings Path Partners LLC significantly increased its stake in Tesla by 263.6% in the second quarter, owning 4,000 shares valued at $1.27 million.
• Several other large investors also boosted their holdings, with increases ranging from 79.2% to 1,616.7% in various quarters.
• Despite a strong market position, Tesla reported a revenue decline of 11.8% year-over-year and missed earnings expectations in its last quarterly results.

Kings Path Partners LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 263.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,000 shares of the electric vehicle producer's stock after acquiring an additional 2,900 shares during the quarter. Kings Path Partners LLC's holdings in Tesla were worth $1,271,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Pacific Center for Financial Services increased its holdings in Tesla by 1,616.7% in the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock worth $42,000 after acquiring an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth about $27,000. Finally, Newton One Investments LLC increased its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on TSLA. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Robert W. Baird restated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Finally, UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $303.00.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, 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. Over the last ninety days, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA opened at $395.94 on Friday. The company has a market cap of $1.28 trillion, a PE ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. 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 50-day moving average price of $328.89 and a 200-day moving average price of $303.57. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 business had revenue of $22.50 billion for 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 business's revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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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