Mizuho Markets Americas LLC Purchases 287,800 Shares of Tesla, Inc. $TSLA

Key Points

• Mizuho Markets Americas increased its Tesla stake by 155.6% in the second quarter, purchasing 287,800 additional shares for a total of 472,800 shares valued at approximately $198.9 million. Tesla now represents about 3.1% of Mizuho’s portfolio.
• Tesla reported quarterly revenue of $28.24 billion, up 25.5% year over year and above estimates, but earnings per share of $0.33 missed the $0.50 consensus forecast. The stock traded at $345.82, with a market capitalization of roughly $1.37 trillion and a P/E ratio above 320.
• Analyst sentiment remains mixed: Tesla has a consensus “Hold” rating and an average price target of $401.74, while CFO Vaibhav Taneja sold 2,606 shares to cover tax-withholding obligations; insiders own 19.9% of the company.

Mizuho Markets Americas LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 155.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 472,800 shares of the electric vehicle producer's stock after purchasing an additional 287,800 shares during the quarter. Tesla accounts for about 3.1% of Mizuho Markets Americas LLC's investment portfolio, making the stock its 5th largest holding. Mizuho Markets Americas LLC's holdings in Tesla were worth $198,860,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Chapman Financial Group LLC purchased a new stake in Tesla during the 2nd quarter worth $26,000. Friedenthal Financial raised its position in Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 30 shares during the period. Turning Point Benefit Group Inc. acquired a new position in shares of Tesla during the third quarter worth about $30,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Tesla in the third quarter valued at about $31,000. Finally, Sarver Vrooman Wealth Advisors acquired a new position in Tesla during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Tesla stock opened at $345.82 on Thursday. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.37 trillion, a P/E ratio of 320.21, a price-to-earnings-growth ratio of 17.68 and a beta of 1.83. The stock has a 50 day moving average of $362.28 and a 200-day moving average of $385.80.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. During the same quarter last year, the firm posted $0.33 EPS. The firm's quarterly revenue was up 25.5% on a year-over-year basis. On average, analysts expect that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Tesla in a research report on Monday, June 29th. They issued a "neutral" rating for the company. TD Cowen restated a "buy" rating on shares of Tesla in a research note on Friday, August 14th. Evercore raised shares of Tesla from a "hold" rating to an "outperform" rating in a report on Friday, June 5th. Mizuho set a $450.00 price target on shares of Tesla and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group set a $400.00 price objective on shares of Tesla and gave the stock a "hold" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nineteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $401.74.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 19.90% of the company's stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada increased Tesla’s permitted Las Vegas robotaxi fleet from 10 vehicles to 5,000, providing regulatory support for the company’s autonomous-driving strategy. However, Tesla still must deploy and operate the expanded fleet successfully. Nevada robotaxi approval
• Positive Sentiment: Elon Musk teased a larger Tesla vehicle, potentially an SUV or Robovan, addressing a product gap in family-oriented vehicles and potentially expanding the company’s addressable market. Tesla Robovan teaser

Tesla Profile

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source