Redwood Investment Management LLC Has $1.51 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Redwood Investment Management LLC increased its Tesla holdings by 43.2%, acquiring an additional 1,756 shares, bringing its total to 5,822 shares worth approximately $1.5 million.
• Other major investors, such as Goldman Sachs Group Inc. and Vanguard Group Inc., also significantly boosted their Tesla share ownership during the same quarter, reflecting growing institutional interest in the electric vehicle manufacturer.
• Tesla's stock reported earnings of $0.40 per share, missing estimates, with revenue of $22.5 billion, down 11.8% year-over-year, highlighting challenges the company is currently facing.

Redwood Investment Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,822 shares of the electric vehicle producer's stock after buying an additional 1,756 shares during the quarter. Redwood Investment Management LLC's holdings in Tesla were worth $1,509,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter valued at about $27,000. Finally, True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth 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. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

NASDAQ TSLA traded down $3.62 during trading hours on Thursday, reaching $345.98. 67,693,950 shares of the company's stock were exchanged, compared to its average volume of 76,979,280. The stock has a market cap of $1.12 trillion, a PE ratio of 199.99, a price-to-earnings-growth ratio of 12.15 and a beta of 2.33. Tesla, Inc. has a one year low of $205.97 and a one year high of $488.54. The firm has a fifty day moving average of $323.35 and a 200-day moving average of $303.11. 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 announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm 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 firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were 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 of the company's stock, 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 150,564 shares of company stock valued at $51,792,190 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TSLA shares. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Canaccord Genuity Group increased their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Finally, Mizuho reduced their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $303.31.

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.