1,137 Shares in Tesla, Inc. $TSLA Acquired by Saudi Central Bank

Key Points

• The Saudi Central Bank has acquired 1,137 shares of Tesla, Inc. valued at approximately $295,000, making it the bank's 8th largest holding at 1.6% of its investment portfolio.
• In a recent quarter, Tesla's earnings missed expectations with EPS of $0.40, below the $0.43 analysts anticipated, and revenue decreased by 11.8% year-over-year to $22.50 billion.
• Shares of Tesla have experienced a 3.5% decline, and currently, the stock holds an average rating of "Hold" with a consensus price target of $303.31 among analysts.

Saudi Central Bank acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,137 shares of the electric vehicle producer's stock, valued at approximately $295,000. Tesla accounts for approximately 1.6% of Saudi Central Bank's portfolio, making the stock its 8th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FRG Family Wealth Advisors LLC grew its holdings in Tesla by 710.8% during the first quarter. FRG Family Wealth Advisors LLC now owns 4,881 shares of the electric vehicle producer's stock worth $1,265,000 after acquiring an additional 4,279 shares during the period. Second Line Capital LLC grew its holdings in Tesla by 8.4% in the first quarter. Second Line Capital LLC now owns 8,550 shares of the electric vehicle producer's stock valued at $2,216,000 after purchasing an additional 662 shares during the last quarter. Centric Wealth Management grew its holdings in Tesla by 84.7% in the first quarter. Centric Wealth Management now owns 7,270 shares of the electric vehicle producer's stock valued at $1,884,000 after purchasing an additional 3,333 shares during the last quarter. Insight Wealth Partners LLC grew its holdings in Tesla by 41.2% in the first quarter. Insight Wealth Partners LLC now owns 2,061 shares of the electric vehicle producer's stock valued at $534,000 after purchasing an additional 601 shares during the last quarter. Finally, Innovator Capital Management LLC grew its holdings in Tesla by 21.4% in the first quarter. Innovator Capital Management LLC now owns 1,057 shares of the electric vehicle producer's stock valued at $274,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,564 shares of company stock valued at $49,396,070 in the last three months. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on TSLA shares. Wedbush reissued an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Monday, August 4th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. HSBC reissued a "reduce" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Price Performance

Shares of Tesla stock traded up $4.73 during trading on Wednesday, hitting $334.09. The stock had a trading volume of 88,423,670 shares, compared to its average volume of 103,650,383. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.08 trillion, a P/E ratio of 193.12, a PEG ratio of 11.61 and a beta of 2.06. The business has a fifty day moving average of $323.07 and a two-hundred day moving average of $302.58. Tesla, Inc. has a fifty-two week low of $210.51 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.