Philadelphia Trust Co. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Philadelphia Trust Co. increased its holdings in Tesla, Inc. by 67.8% in Q1, owning 1,931 shares valued at approximately $500,000.
• Several institutional investors have made significant changes to their positions in Tesla, with Cherry Tree Wealth Management increasing its stake by 86.3%.
• Tesla reported earnings of $0.40 per share, missing analyst expectations, with revenue of $22.50 billion, down 11.8% year-over-year.

Philadelphia Trust Co. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 67.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,931 shares of the electric vehicle producer's stock after purchasing an additional 780 shares during the period. Philadelphia Trust Co.'s holdings in Tesla were worth $500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC grew its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% 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 hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction 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 transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 1.5%

TSLA opened at $330.56 on Friday. The firm has a 50 day moving average price of $320.41 and a 200 day moving average price of $305.81. The company has a market cap of $1.07 trillion, a PE ratio of 191.08, a price-to-earnings-growth ratio of 11.67 and a beta of 2.33. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54. 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 issued its quarterly earnings data 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 net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the business earned $0.52 EPS. The firm's revenue was down 11.8% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TSLA shares. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. China Renaissance restated a "hold" rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Finally, UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.

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