Russell Investments Group Ltd. Has $425.53 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Russell Investments Group Ltd. increased its stake in Tesla by 8.7%, holding approximately 1.6 million shares worth $425.53 million, which makes Tesla the firm's 17th largest holding.
• Insider trading revealed that senior executives sold a total of 602,724 shares worth over $214 million in the last three months, representing significant decreases in their ownership stakes.
• Recent analyst ratings show a mix of sentiments with Tesla receiving ten sell ratings, fifteen hold ratings, and seventeen buy ratings, indicating a cautious outlook on the stock.

Russell Investments Group Ltd. grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,637,426 shares of the electric vehicle producer's stock after buying an additional 131,592 shares during the period. Tesla accounts for approximately 0.6% of Russell Investments Group Ltd.'s investment portfolio, making the stock its 17th largest holding. Russell Investments Group Ltd. owned approximately 0.05% of Tesla worth $425,525,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, 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 transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% 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, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 602,724 shares of company stock worth $214,176,831. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Canaccord Genuity Group raised their price target on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. HSBC restated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Barclays reduced their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $303.31.

Tesla Price Performance

Tesla stock opened at $339.03 on Tuesday. Tesla, Inc. has a 12 month low of $194.67 and a 12 month high of $488.54. The stock's 50 day moving average is $318.61 and its 200-day moving average is $306.24. 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 company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 195.97, a PEG ratio of 11.46 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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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