Shariaportfolio Inc. Has $36.48 Million Position in Tesla, Inc. $TSLA

Key Points

• Shariaportfolio Inc. increased its stake in Tesla by 7.4% in Q2, holding 114,845 shares worth approximately $36.48 million, making Tesla its largest position.
• Tesla's latest quarterly earnings showed an EPS of $0.40, missing expectations, against revenue of $22.5 billion, which was also below analysts’ forecasts.
• Several analysts have recently adjusted their price targets for Tesla, with Benchmark raising its target to $475, while JPMorgan boosted theirs from $115 to $150.

Shariaportfolio Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,845 shares of the electric vehicle producer's stock after acquiring an additional 7,897 shares during the quarter. Tesla comprises 15.6% of Shariaportfolio Inc.'s holdings, making the stock its biggest position. Shariaportfolio Inc.'s holdings in Tesla were worth $36,482,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. grew its position in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $435.54 on Friday. The company's fifty day moving average price is $373.75 and its 200 day moving average price is $326.64. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a market capitalization of $1.45 trillion, a PE ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08. 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 announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The business's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on TSLA shares. Benchmark reissued a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $349.37.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% 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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