Schubert & Co Purchases 1,107 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Schubert & Co increased its position in Tesla, Inc. by 69.4%, acquiring 1,107 additional shares to hold a total of 2,701 shares, representing approximately $700,000 in value.
• Several hedge funds have significantly increased their holdings in Tesla, with notable acquisitions including Geode Capital and FMR LLC, raising their stakes by 2.8% and 40.1%, respectively, indicating strong institutional interest.
• Tesla reported earnings of $0.40 EPS, missing analysts' estimates of $0.43, and its revenue fell 11.8% year-over-year to $22.50 billion for the most recent quarter.

Schubert & Co grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 69.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,701 shares of the electric vehicle producer's stock after acquiring an additional 1,107 shares during the quarter. Tesla makes up approximately 0.5% of Schubert & Co's holdings, making the stock its 24th largest position. Schubert & Co's holdings in Tesla were worth $700,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLA. Geode Capital Management LLC boosted its position in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. FMR LLC boosted its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Northern Trust Corp boosted its position in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after purchasing an additional 158,697 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in Tesla by 19.8% during the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after purchasing an additional 2,170,449 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,119 shares of company stock worth $246,186,549. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. HSBC restated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group reduced their price target on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $303.31.

Tesla Stock Down 2.9%

TSLA stock traded down $9.32 during mid-day trading on Thursday, hitting $309.72. The stock had a trading volume of 59,272,081 shares, compared to its average volume of 107,835,406. 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, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a fifty day moving average of $323.61 and a 200 day moving average of $313.14. The stock has a market capitalization of $998.97 billion, a price-to-earnings ratio of 178.69, a PEG ratio of 11.28 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The business's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS 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.