Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Evolution Wealth Advisors LLC

Key Points

• Evolution Wealth Advisors LLC increased its holdings in Tesla by 85.7% during the 1st quarter, owning a total of 13,109 shares valued at approximately $3.4 million.
• Tesla reported $0.40 earnings per share for the last quarter, falling short of the estimated $0.43 and representing an 11.8% decline in revenue year-over-year.
• Currently, institutional investors and hedge funds collectively own 66.20% of Tesla's stock, while company insiders have sold over 606,724 shares valued at approximately $215 million in the last quarter.

Evolution Wealth Advisors LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 85.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,109 shares of the electric vehicle producer's stock after purchasing an additional 6,048 shares during the period. Evolution Wealth Advisors LLC's holdings in Tesla were worth $3,397,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Coign Capital Advisors LLC grew its stake in Tesla by 8.5% in the 1st quarter. Coign Capital Advisors LLC now owns 2,187 shares of the electric vehicle producer's stock worth $567,000 after acquiring an additional 172 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in Tesla in the 1st quarter worth about $70,851,000. Citizens Financial Group Inc. RI boosted its stake in shares of Tesla by 22.5% during the first quarter. Citizens Financial Group Inc. RI now owns 72,240 shares of the electric vehicle producer's stock valued at $18,722,000 after purchasing an additional 13,268 shares in the last quarter. Strategy Asset Managers LLC boosted its stake in shares of Tesla by 93.3% during the first quarter. Strategy Asset Managers LLC now owns 1,075 shares of the electric vehicle producer's stock valued at $279,000 after purchasing an additional 519 shares in the last quarter. Finally, Hemington Wealth Management boosted its stake in shares of Tesla by 8.2% during the first quarter. Hemington Wealth Management now owns 3,163 shares of the electric vehicle producer's stock valued at $819,000 after purchasing an additional 240 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TSLA shares. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Mizuho dropped their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Finally, Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $303.31.

Insider Activity at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents 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 through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated 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 completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 606,724 shares of company stock worth $215,376,831 in the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

TSLA traded up $2.36 on Thursday, reaching $322.27. The stock had a trading volume of 66,349,220 shares, compared to its average volume of 91,453,784. Tesla, Inc. has a 12-month low of $192.04 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business's 50-day moving average price is $319.07 and its two-hundred day moving average price is $308.84. The company has a market cap of $1.04 trillion, a P/E ratio of 186.28, a price-to-earnings-growth ratio of 11.24 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Sell-side analysts forecast 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.