Siren L.L.C. Buys Shares of 9,000 Tesla, Inc. $TSLA

Key Points

• Siren L.L.C. acquired 9,000 shares of Tesla, Inc. for about $2.3 million in its first quarter investment, according to a recent SEC filing.
• Tesla reported earnings of $0.40 per share, missing expectations, and experienced an 11.8% year-over-year revenue decline, totaling $22.5 billion for the quarter.
• Approximately 66.2% of Tesla's stock is now owned by institutional investors, with several firms significantly increasing their stakes in the company during the same quarter.

Siren L.L.C. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,000 shares of the electric vehicle producer's stock, valued at approximately $2,332,000.

Other institutional investors also recently modified their holdings of the company. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% in the first 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 lifted its holdings 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 acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. lifted its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's 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 owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,606 shares of company stock worth $51,999,662. Corporate insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Mizuho lowered their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $303.00.

Tesla Trading Up 7.4%

Tesla stock traded up $27.13 during mid-day trading on Friday, reaching $395.94. 167,593,971 shares of the company traded hands, compared to its average volume of 71,704,616. 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's 50 day moving average price is $328.89 and its 200 day moving average price is $303.57. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm'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 firm posted $0.52 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.