Northwest & Ethical Investments L.P. Has $440,000 Stock Position in Tesla, Inc. $TSLA

Key Points

• Northwest & Ethical Investments L.P. increased its position in Tesla, Inc. by 518.2% in the first quarter, holding shares valued at $440,000 by the end of the reporting period.
• Goldman Sachs significantly boosted its holdings in Tesla by 322.1%, now owning over 26 million shares worth nearly $6.9 billion.
• Tesla reported a net revenue of $22.50 billion for the last quarter but missed analysts' expectations, with earnings per share (EPS) of $0.40 compared to the forecasted $0.43.

Northwest & Ethical Investments L.P. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 518.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700 shares of the electric vehicle producer's stock after acquiring an additional 1,425 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Tesla were worth $440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Goldman Sachs Group Inc. boosted its holdings in shares of 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 worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new position in Tesla in the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC raised its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. 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 worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Tesla by 1.5% in 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 last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Guggenheim reiterated a "sell" rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Price Performance

TSLA opened at $329.31 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a fifty day simple moving average of $321.01 and a 200 day simple moving average of $304.26. The stock has a market cap of $1.06 trillion, a P/E ratio of 190.35, a P/E/G ratio of 11.65 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on 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 in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock worth $213,126,501 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

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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