Paloma Partners Management Co Buys New Shares in Tesla, Inc. $TSLA

Key Points

• Paloma Partners Management Co acquired a new stake in Tesla, purchasing 6,000 shares valued at approximately $1,555,000 during the first quarter.
• Tesla recently reported quarterly earnings of $0.40 EPS, falling short of the consensus estimate of $0.43 and showing a year-over-year revenue decline of 11.8%.
• Institutional investors own 66.20% of Tesla's stock, indicating strong institutional support amid recent stock transactions and modifications in holdings.

Paloma Partners Management Co bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the electric vehicle producer's stock, valued at approximately $1,555,000.

A number of other institutional investors also recently modified their holdings of TSLA. Eagle Capital Management LLC acquired a new position in shares of Tesla during the 4th quarter valued at $331,000. Brighton Jones LLC lifted its position in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new position in Tesla during the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE acquired a new position in Tesla during the fourth quarter worth $2,367,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $333.87 on Monday. The firm has a market cap of $1.08 trillion, a price-to-earnings ratio of 192.99, a PEG ratio of 11.61 and a beta of 2.06. The company has a fifty day moving average price of $323.59 and a 200-day moving average price of $302.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $205.97 and a 1 year high of $488.54.

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 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 the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a report on Monday, August 4th. Mizuho lowered their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. HSBC restated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $303.31.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,564 shares of company stock worth $49,746,070. 20.70% of the stock is owned by company insiders.

Tesla Company 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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