Next Century Growth Investors LLC Has $1.85 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Next Century Growth Investors LLC significantly reduced its holdings in Tesla by 62.3%, now owning approximately 7,141 shares valued at $1.85 million.
• Multiple institutional investors increased their Tesla holdings during the first quarter, with Cherry Tree Wealth Management boosting its position by 86.3%.
• Tesla reported a net margin of 6.54% and earnings per share (EPS) of $0.40 for the most recent quarter, missing expectations by $0.03.

Next Century Growth Investors LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 62.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,141 shares of the electric vehicle producer's stock after selling 11,790 shares during the quarter. Next Century Growth Investors LLC's holdings in Tesla were worth $1,851,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC boosted its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 0.6%

Shares of NASDAQ:TSLA opened at $349.60 on Thursday. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 202.08, a PEG ratio of 12.23 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock's 50-day simple moving average is $322.87 and its two-hundred day simple moving average is $303.14. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54.

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 (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the business posted $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. HSBC restated a "reduce" rating and set a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $303.31.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated 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 owned 67,600 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 30,564 shares of company stock valued at $9,757,390. 20.70% of the stock is owned by company insiders.

Tesla Company Profile

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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