Owen LaRue LLC Has $1.78 Million Position in Tesla, Inc. $TSLA

Key Points

• Owen LaRue LLC increased its stake in Tesla by 72.5% during the second quarter, bringing its holdings to a value of $1.78 million.
• Several institutional investors also adjusted their positions, with Vanguard Group Inc. owning over $63 billion worth of Tesla shares after a recent increase.
• Tesla reported earnings per share of $0.40 for the most recent quarter, falling short of the expected $0.43, alongside a revenue decline of 11.8% year-over-year.

Owen LaRue LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 72.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,597 shares of the electric vehicle producer's stock after purchasing an additional 2,352 shares during the period. Owen LaRue LLC's holdings in Tesla were worth $1,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi grew its holdings 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 acquiring an additional 3,814,610 shares during the period. Finally, Invesco Ltd. grew its holdings in Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after acquiring an additional 2,211,300 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 4.0%

TSLA opened at $440.40 on Friday. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 14.77 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm's fifty day simple moving average is $352.05 and its 200 day simple moving average is $314.42. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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 during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 target price on shares of Tesla in a report on Friday, September 5th. Guggenheim reaffirmed a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, CICC Research lifted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $332.33.

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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