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Liberty Wealth Management LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Tesla logo with Auto/Tires/Trucks background

Key Points

  • Liberty Wealth Management LLC significantly increased its stake in Tesla, Inc. by acquiring 310,769 shares, raising its total holdings to 336,018 shares, which are now valued at approximately $87.1 million.
  • A variety of institutional investors have recently adjusted their positions in Tesla, with institutional ownership now at 66.20% of the company's stock.
  • Tesla's recent quarterly earnings report showed a net margin of 6.54% and revenue of $22.50 billion, which was below analysts' expectations of $23.18 billion.
  • MarketBeat previews the top five stocks to own by September 1st.

Liberty Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1,230.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 336,018 shares of the electric vehicle producer's stock after purchasing an additional 310,769 shares during the period. Tesla makes up about 1.6% of Liberty Wealth Management LLC's investment portfolio, making the stock its 17th largest holding. Liberty Wealth Management LLC's holdings in Tesla were worth $87,082,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Northern Trust Corp raised its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after purchasing an additional 158,697 shares during the period. Nuveen Asset Management LLC raised its holdings in Tesla by 19.8% in the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock worth $5,294,010,000 after purchasing an additional 2,170,449 shares during the period. Finally, Invesco Ltd. raised its holdings in Tesla by 6.6% during the fourth quarter. Invesco Ltd. now owns 12,575,114 shares of the electric vehicle producer's stock valued at $5,078,334,000 after acquiring an additional 774,383 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $6.63 during trading on Monday, reaching $309.26. 78,491,849 shares of the company's stock traded hands, compared to its average volume of 96,195,928. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. 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 firm has a market cap of $997.50 billion, a PE ratio of 178.76, a P/E/G ratio of 10.63 and a beta of 2.33. The company has a 50-day simple moving average of $322.22 and a 200-day simple moving average of $310.31.

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 for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TSLA shares. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Bank of America boosted their target price on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $303.31.

View Our Latest Stock Report on TSLA

About Tesla

(Free Report)

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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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