Tesla, Inc. (NASDAQ:TSLA) Position Raised by Strategic Advocates LLC

Key Points

• Strategic Advocates LLC increased its stake in Tesla, Inc. by 15.5% during the 1st quarter, acquiring an additional 1,885 shares, bringing its total holdings to 14,071 shares valued at approximately $3.65 million.
• Recent insider trading saw CFO Vaibhav Taneja sell 6,000 shares for over $2 million, indicating a significant decrease in his ownership, while Director Robyn M. Denholm also sold over 112,000 shares.
• Tesla reported earnings per share (EPS) of $0.40 for the last quarter, missing expectations, with a revenue of $22.50 billion, which was below analyst forecasts of $23.18 billion.

Strategic Advocates LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,071 shares of the electric vehicle producer's stock after buying an additional 1,885 shares during the quarter. Tesla comprises about 1.3% of Strategic Advocates LLC's investment portfolio, making the stock its 15th biggest position. Strategic Advocates LLC's holdings in Tesla were worth $3,647,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $56,600,000. Means Investment CO. Inc. grew its stake in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. grew its stake in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Tesla during the fourth quarter valued at about $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% 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, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. China Renaissance restated a "hold" rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group decreased their price target on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $303.31.

Tesla Stock Performance

Shares of TSLA traded down $5.64 during mid-day trading on Friday, reaching $302.63. 88,785,612 shares of the company's stock traded hands, compared to its average volume of 91,739,856. The business's 50-day moving average price is $322.22 and its 200-day moving average price is $311.84. The stock has a market capitalization of $976.12 billion, a P/E ratio of 174.93, a price-to-earnings-growth ratio of 10.83 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 12 month low of $182.00 and a 12 month high of $488.54.

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