State of Wyoming Has $1.86 Million Stake in Tesla, Inc. $TSLA

Key Points

• The State of Wyoming increased its stake in Tesla, Inc. by 13.6% in Q1, now holding 7,165 shares valued at approximately $1.86 million.
• Several institutional investors such as TD Capital Management and Graney & King made significant position adjustments in Tesla shares, reflecting strong interest with 66.20% of stock owned by institutional investors.
• Tesla reported a $0.40 earnings per share in its last quarter, missing expectations, with a revenue of $22.50 billion, a decline of 11.8% year-over-year.

State of Wyoming increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,165 shares of the electric vehicle producer's stock after buying an additional 857 shares during the period. State of Wyoming's holdings in Tesla were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. TD Capital Management LLC raised its position in shares of Tesla by 11.1% in the first quarter. TD Capital Management LLC now owns 1,254 shares of the electric vehicle producer's stock valued at $325,000 after buying an additional 125 shares in the last quarter. Graney & King LLC raised its position in shares of Tesla by 18.4% in the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after buying an additional 38 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Tesla by 108.5% in the first quarter. Landscape Capital Management L.L.C. now owns 8,273 shares of the electric vehicle producer's stock valued at $2,144,000 after buying an additional 4,306 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Tesla by 5.1% in the first quarter. Truvestments Capital LLC now owns 1,626 shares of the electric vehicle producer's stock valued at $421,000 after buying an additional 79 shares in the last quarter. Finally, Wealth Preservation Advisors LLC acquired a new position in Tesla during the first quarter valued at approximately $520,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on TSLA. Guggenheim restated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Benchmark restated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Bank of America boosted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,564 shares of company stock worth $51,792,190. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Down 1.0%

Shares of NASDAQ:TSLA opened at $345.98 on Friday. The company has a fifty day moving average of $323.35 and a 200-day moving average of $303.11. The company has a market capitalization of $1.12 trillion, a PE ratio of 199.99, a price-to-earnings-growth ratio of 12.15 and a beta of 2.33. 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, Inc. has a 52-week low of $205.97 and a 52-week high of $488.54.

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 the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities analysts predict 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.

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