SLT Holdings LLC Boosts Stake in Tesla, Inc. $TSLA

Key Points

• SLT Holdings LLC increased its stake in Tesla, Inc. by 35.6%, owning a total of 8,586 shares valued at approximately $2.73 million as of its recent SEC filing.
• Several other hedge funds also significantly increased their holdings in Tesla during the first quarter, contributing to institutional investors owning 66.20% of the company's stock.
• Tesla reported a net margin of 6.54% and quarterly revenue of $22.50 billion, which fell short of analyst expectations, highlighting a decline of 11.8% compared to the same quarter last year.

SLT Holdings LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,586 shares of the electric vehicle producer's stock after purchasing an additional 2,252 shares during the quarter. Tesla makes up 2.1% of SLT Holdings LLC's holdings, making the stock its 11th largest position. SLT Holdings LLC's holdings in Tesla were worth $2,727,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its position 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 valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank lifted 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 lifted 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 purchased a new position in Tesla during the first quarter valued at $27,000. Finally, Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of TSLA stock opened at $413.49 on Monday. 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 is $375.97 and its two-hundred day moving average is $328.28. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly 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). The firm 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 quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated 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 directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was 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 in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last three months. Company insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Tesla in a research report on Wednesday, October 8th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Stifel Nicolaus set a $483.00 price objective on Tesla and gave the company a "buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $354.67.

Tesla 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.

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