Tesla, Inc. (NASDAQ:TSLA) is Pinpoint Asset Management Ltd's 4th Largest Position

Key Points

• Pinpoint Asset Management Ltd increased its holdings in Tesla by 42.7% during the first quarter, owning 183,110 shares, which represents about 8.3% of its portfolio.
• Tesla reported $0.40 earnings per share (EPS) for the latest quarter, missing expectations of $0.43, with a 11.8% year-over-year revenue decline to $22.50 billion.
• About 66.20% of Tesla's stock is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

Pinpoint Asset Management Ltd grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 183,110 shares of the electric vehicle producer's stock after buying an additional 54,817 shares during the period. Tesla accounts for approximately 8.3% of Pinpoint Asset Management Ltd's portfolio, making the stock its 4th largest position. Pinpoint Asset Management Ltd's holdings in Tesla were worth $47,455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Navigoe LLC acquired a new position in shares of Tesla during the fourth quarter worth about $37,000. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% during the first 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 during the period. First PREMIER Bank increased its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Tesla during the fourth quarter worth about $39,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $319.91 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.92, a PEG ratio of 10.85 and a beta of 2.33. The company's 50 day simple moving average is $319.80 and its 200 day simple moving average is $309.56. Tesla, Inc. has a 1 year low of $191.48 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 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 business's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Piper Sandler reiterated an "overweight" rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. UBS Group set a $290.00 price target on shares of Tesla in a research note on Monday, June 30th. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $303.31.

Insider Activity

In related news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 1,950 shares of the company's stock, 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 SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 606,724 shares of company stock worth $215,376,831. 20.70% of the stock is currently owned by corporate insiders.

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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