S Bank Fund Management Ltd Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• S Bank Fund Management Ltd has purchased 53,754 shares of Tesla, Inc., valued at approximately $13.93 million, making it the fund's 5th largest holding.
• Numerous institutional investors, including Cherry Tree Wealth Management and First PREMIER Bank, have significantly increased their holdings in Tesla during the first quarter, indicating growing confidence in the company.
• Despite a decrease in earnings per share and revenue compared to the previous year, Tesla maintains a market capitalization of $1.10 trillion and has received mixed ratings from analysts, with an average target price of $303.31.

S Bank Fund Management Ltd purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 53,754 shares of the electric vehicle producer's stock, valued at approximately $13,931,000. Tesla accounts for approximately 2.6% of S Bank Fund Management Ltd's portfolio, making the stock its 5th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% during 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 in the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% during 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 in the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% during 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 in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the first quarter valued at approximately $27,000. Finally, True Wealth Design LLC boosted its holdings in Tesla by 79.5% during 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. Canaccord Genuity Group lifted their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. China Renaissance reissued a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Finally, HSBC reissued a "reduce" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Ten 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Shares of Tesla stock opened at $340.84 on Wednesday. The firm has a fifty day moving average of $318.54 and a two-hundred day moving average of $306.48. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 197.02, a PEG ratio of 11.79 and a beta of 2.33. Tesla, Inc. has a 52 week low of $197.06 and a 52 week 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 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company'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 completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock worth $214,176,831 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

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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