Oak Ridge Investments LLC Has $51.08 Million Position in Tesla, Inc. $TSLA

Key Points

• Oak Ridge Investments increased its Tesla stake by 30.6% in the second quarter, acquiring 28,435 additional shares. Its 121,438 shares were valued at approximately $51.08 million and represented 2.9% of the fund’s portfolio.
• Tesla reported quarterly revenue of $28.24 billion, exceeding estimates of $26.42 billion, but earnings per share of $0.33 fell short of the $0.50 consensus. Revenue increased 25.5% year over year, while net margin was 3.67%.
• Analyst sentiment remains mixed, with MarketBeat reporting an overall “Hold” rating and an average price target of $401.74. Institutional investors and hedge funds collectively own 66.2% of Tesla, while CFO Vaibhav Taneja sold shares to cover tax-withholding obligations.

Oak Ridge Investments LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,438 shares of the electric vehicle producer's stock after purchasing an additional 28,435 shares during the quarter. Tesla comprises about 2.9% of Oak Ridge Investments LLC's portfolio, making the stock its 10th biggest holding. Oak Ridge Investments LLC's holdings in Tesla were worth $51,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Crestwood Advisors Group LLC grew its holdings in Tesla by 34.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 19,567 shares of the electric vehicle producer's stock worth $8,799,000 after purchasing an additional 5,039 shares during the period. Private Capital Advisors Inc. raised its stake in Tesla by 139.3% in the fourth quarter. Private Capital Advisors Inc. now owns 21,331 shares of the electric vehicle producer's stock valued at $9,593,000 after buying an additional 12,417 shares during the period. Wealthquest Corp bought a new stake in Tesla in the fourth quarter valued at approximately $1,035,000. Knights of Columbus Asset Advisors LLC lifted its position in shares of Tesla by 34.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 64,481 shares of the electric vehicle producer's stock valued at $28,998,000 after buying an additional 16,652 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co boosted its stake in shares of Tesla by 3.0% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 404,023 shares of the electric vehicle producer's stock worth $181,697,000 after acquiring an additional 11,900 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $345.82 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.94 and a quick ratio of 1.55. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 320.21, a P/E/G ratio of 17.68 and a beta of 1.83. The stock's fifty day moving average price is $362.28 and its two-hundred day moving average price is $385.80. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). The firm had revenue of $28.24 billion for the quarter, compared to analyst estimates of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The firm's quarterly revenue was up 25.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. On average, equities analysts forecast that Tesla, Inc. will post 0.88 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TSLA shares. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 23rd. William Blair reaffirmed a "market perform" rating on shares of Tesla in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tesla in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft set a $420.00 price objective on shares of Tesla in a report on Monday, July 27th. Finally, Piper Sandler cut their target price on shares of Tesla from $500.00 to $450.00 and set an "overweight" rating for the company in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $401.74.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada increased Tesla’s permitted Las Vegas robotaxi fleet from 10 vehicles to 5,000, providing regulatory support for the company’s autonomous-driving strategy. However, Tesla still must deploy and operate the expanded fleet successfully. Nevada robotaxi approval
• Positive Sentiment: Elon Musk teased a larger Tesla vehicle, potentially an SUV or Robovan, addressing a product gap in family-oriented vehicles and potentially expanding the company’s addressable market. Tesla Robovan teaser

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 19.90% of the company's stock.

Tesla Profile

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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