Tesla, Inc. (NASDAQ:TSLA) Position Boosted by Berkshire Capital Holdings Inc.

Key Points

• Berkshire Capital Holdings Inc. has increased its stake in Tesla by 35.4%, now owning 63,980 shares worth approximately $16.58 million, making it the third largest position in their portfolio.
• Several hedge funds and institutional investors have also raised their holdings in Tesla, with over 66% of the stock owned by such investors.
• Tesla's recent earnings report showed a missed EPS estimate of $0.40, compared to the consensus of $0.43, alongside a revenue of $22.50 billion, which was below analysts' expectations.

Berkshire Capital Holdings Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,980 shares of the electric vehicle producer's stock after buying an additional 16,720 shares during the period. Tesla accounts for 7.9% of Berkshire Capital Holdings Inc.'s portfolio, making the stock its 3rd biggest position. Berkshire Capital Holdings Inc.'s holdings in Tesla were worth $16,581,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Rinkey Investments grew its stake in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC grew its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Aldebaran Financial Inc. grew its stake in Tesla by 3.1% in the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares during the period. Acorn Wealth Advisors LLC grew its stake in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares during the period. Finally, Solutions 4 Wealth Ltd grew its stake in shares of Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after acquiring an additional 36 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TSLA. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Canaccord Genuity Group increased their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Piper Sandler reissued an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Cantor Fitzgerald cut their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Shares of TSLA opened at $330.56 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $320.41 and a two-hundred day simple moving average of $305.24. The stock has a market cap of $1.07 trillion, a price-to-earnings ratio of 191.08, a PEG ratio of 11.49 and a beta of 2.33. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated 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 completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 599,724 shares of company stock worth $213,126,501. Company insiders own 20.70% of the company's stock.

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.

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