Northwestern Mutual Wealth Management Co. Boosts Stock Position in Tesla, Inc. $TSLA

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Tesla, Inc. by 16.3%, acquiring a total of 267,288 shares valued at approximately $69.27 million.
• During the 1st quarter, multiple institutional investors, including ADAPT Investment Managers SA, significantly boosted their holdings in Tesla, reflecting a strong interest in the electric vehicle market.
• Tesla's stock is currently trading at $340.01, following a 6.2% increase, although the company reported a net margin of 6.54% and a year-over-year revenue decline of 11.8%.

Northwestern Mutual Wealth Management Co. lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 267,288 shares of the electric vehicle producer's stock after buying an additional 37,406 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Tesla were worth $69,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Tesla by 1.6% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 572,251 shares of the electric vehicle producer's stock worth $148,305,000 after acquiring an additional 8,873 shares in the last quarter. Haverford Trust Co boosted its position in shares of Tesla by 47.1% during the 1st quarter. Haverford Trust Co now owns 3,193 shares of the electric vehicle producer's stock worth $827,000 after acquiring an additional 1,023 shares in the last quarter. Ariston Services Group acquired a new position in shares of Tesla during the 1st quarter worth about $324,000. Sax Wealth Advisors LLC boosted its position in shares of Tesla by 15.3% during the 1st quarter. Sax Wealth Advisors LLC now owns 3,422 shares of the electric vehicle producer's stock worth $887,000 after acquiring an additional 453 shares in the last quarter. Finally, ADAPT Investment Managers SA boosted its position in shares of Tesla by 103.7% during the 1st quarter. ADAPT Investment Managers SA now owns 31,750 shares of the electric vehicle producer's stock worth $8,228,000 after acquiring an additional 881,750 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 6.2%

TSLA opened at $340.01 on Friday. The business has a 50 day moving average price of $321.27 and a two-hundred day moving average price of $303.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.10 trillion, a PE ratio of 196.54, a P/E/G ratio of 11.82 and a beta of 2.33. 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 posted its quarterly earnings data 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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on TSLA. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Piper Sandler reissued an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Finally, Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $303.31.

Tesla 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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