NCM Capital Management LLC Purchases Shares of 4,018 Tesla, Inc. $TSLA

Key Points

• NCM Capital Management LLC purchased 4,018 shares of Tesla, valued at approximately $1,041,000, as per its recent SEC filing.
• Analysts have varied opinions on Tesla's stock, with one investment analyst giving a Strong Buy rating, while the stock has an average rating of "Hold" and a consensus price target of $303.31.
• Company insiders, including Director Ira Matthew Ehrenpreis and CFO Vaibhav Taneja, have sold substantial amounts of Tesla stock, indicating a potential shift in confidence among executives.

NCM Capital Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,018 shares of the electric vehicle producer's stock, valued at approximately $1,041,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the 1st 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 during the period. Northern Trust Corp raised its position 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 valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 purchasing an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $9,908,828,000 after purchasing an additional 158,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 849,091 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Benchmark reissued a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $303.31.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 599,724 shares of company stock worth $213,126,501. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $340.01 on Monday. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The business has a 50-day moving average of $321.27 and a 200-day moving average of $302.58. 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 company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.82 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results 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 analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS 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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