Oak Ridge Investments LLC Acquires 968 Shares of Tesla, Inc. $TSLA

Key Points

• Oak Ridge Investments LLC increased its holdings in Tesla by 1.2%, owning a total of 79,584 shares worth $25.28 million, making Tesla the firm's 11th largest position.
• Institutional investors and hedge funds now own 66.20% of Tesla's stock, with significant increases from firms like Goldman Sachs Group Inc. and Kingstone Capital Partners Texas LLC.
• Tesla reported earnings per share of $0.40 for the latest quarter, missing expectations, and saw a year-over-year revenue decline of 11.8%.

Oak Ridge Investments LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,584 shares of the electric vehicle producer's stock after buying an additional 968 shares during the period. Tesla comprises approximately 1.8% of Oak Ridge Investments LLC's portfolio, making the stock its 11th largest position. Oak Ridge Investments LLC's holdings in Tesla were worth $25,281,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. boosted its position in Tesla by 322.1% during 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 buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla during the 1st quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its position in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after buying an additional 6,435,598 shares during the period. Amundi boosted its position in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. boosted its position in 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 buying an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla Price Performance

Tesla stock opened at $413.49 on Monday. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock's 50 day moving average price is $375.97 and its two-hundred day moving average price is $328.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for 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%.Tesla's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. Bank of America increased their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Mizuho increased their target price on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday, September 23rd. Dbs Bank increased their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $354.67.

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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