Mission Creek Capital Partners Inc. Has $332,000 Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Mission Creek Capital Partners Inc. reduced its holdings in Tesla, Inc. by 43.9%, owning 1,280 shares valued at $332,000 post-sale.
• Various institutional investors such as Cherry Tree Wealth Management and First PREMIER Bank significantly increased their stakes in Tesla, reflecting growing interest in the company.
• Tesla reported quarterly earnings with $0.40 EPS, falling short of the $0.43 consensus estimate, along with a revenue of $22.50 billion, which decreased by 11.8% year-over-year.

Mission Creek Capital Partners Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,280 shares of the electric vehicle producer's stock after selling 1,000 shares during the quarter. Mission Creek Capital Partners Inc.'s holdings in Tesla were worth $332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cherry Tree Wealth Management LLC raised its position 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 valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Pacific Center for Financial Services increased its position in shares of Tesla by 1,616.7% during the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock worth $42,000 after purchasing an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the 1st quarter worth approximately $27,000. Finally, Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. HSBC reaffirmed a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Canaccord Genuity Group lifted their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $303.31.

Tesla Stock Performance

TSLA opened at $345.98 on Friday. The business has a fifty day simple moving average of $323.35 and a 200 day simple moving average of $303.11. The company has a market capitalization of $1.12 trillion, a PE ratio of 199.99, a price-to-earnings-growth ratio of 12.15 and a beta of 2.33. Tesla, Inc. has a 1 year low of $205.97 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

Insider Activity

In other 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 directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were 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. In the last three months, insiders sold 150,564 shares of company stock worth $51,792,190. 20.70% of the stock is currently owned by company 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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