Once Capital Management LLC Has $1.94 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Once Capital Management LLC increased its Tesla holdings by 275% in Q1, acquiring an additional 5,500 shares, bringing its total to 7,500 shares, which are now valued at approximately $1.94 million.
• Several other institutional investors also boosted their positions in Tesla during the same period, with some notable increases including an 86.3% stake increase by Cherry Tree Wealth Management LLC.
• Tesla reported earnings of $0.40 per share, falling short of analysts' expectations of $0.43, and its revenue for the quarter was down by 11.8% compared to the same quarter last year, totaling $22.5 billion.

Once Capital Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 275.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the electric vehicle producer's stock after buying an additional 5,500 shares during the quarter. Tesla comprises 0.9% of Once Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Once Capital Management LLC's holdings in Tesla were worth $1,944,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla during the 4th quarter valued at $56,600,000. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its position in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd lifted its position in Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new stake in Tesla during the 4th quarter valued at about $8,158,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 1.8%

Shares of TSLA stock traded down $5.64 on Friday, hitting $302.63. 88,785,612 shares of the stock were exchanged, compared to its average volume of 96,195,928. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $976.12 billion, a P/E ratio of 174.93, a price-to-earnings-growth ratio of 10.63 and a beta of 2.33. The business has a 50-day moving average of $322.22 and a 200 day moving average of $310.31. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the 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 directly owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,119 shares of company stock worth $246,186,549 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TSLA shares. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. HSBC reissued a "reduce" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Finally, Barclays reduced their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $303.31.

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.