N.E.W. Advisory Services LLC Has $1.02 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• N.E.W. Advisory Services LLC increased its holdings in Tesla, Inc. by 29.1%, now owning 3,941 shares valued at approximately $1.02 million.
• Several institutional investors made significant adjustments to their Tesla positions, with Cherry Tree Wealth Management increasing theirs by 86.3%.
• Tesla reported earnings of $0.40 EPS for the last quarter, missing estimates, and experienced an 11.8% decline in revenue year-over-year.

N.E.W. Advisory Services LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,941 shares of the electric vehicle producer's stock after buying an additional 889 shares during the period. N.E.W. Advisory Services LLC's holdings in Tesla were worth $1,021,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. FMR LLC boosted its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Northern Trust Corp boosted its stake in Tesla by 21.6% during 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 0.7% during 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 during the period. Finally, Nuveen Asset Management LLC boosted its stake in Tesla by 19.8% during the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after purchasing an additional 2,170,449 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 2.1%

TSLA traded down $6.55 on Friday, reaching $301.72. 72,927,423 shares of the company traded hands, compared to its average volume of 107,794,789. The stock's 50 day moving average price is $322.96 and its 200-day moving average price is $312.48. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a market cap of $973.19 billion, a price-to-earnings ratio of 174.42, a PEG ratio of 11.21 and a beta of 2.39. 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 posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 719,119 shares of company stock valued at $246,186,549. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Raymond James Financial downgraded shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Bank of America boosted their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. UBS Group set a $290.00 price target on shares of Tesla in a research report on Monday, June 30th. Finally, Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $303.31.

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.