Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Tesla by 85.1% in the first quarter, owning 333,271 shares valued at approximately $86.37 million, making Tesla its 5th largest position.
• Several other institutional investors, including Banque Cantonale Vaudoise and Geneos Wealth Management Inc., also acquired new shares or increased their stakes in Tesla during the first quarter.
• Tesla's recent quarterly earnings report showed EPS of $0.40, missing analyst expectations, while the company reported an 11.8% decline in revenue compared to the previous year.

Harvest Fund Management Co. Ltd raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 85.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 333,271 shares of the electric vehicle producer's stock after buying an additional 153,226 shares during the period. Tesla comprises about 4.4% of Harvest Fund Management Co. Ltd's holdings, making the stock its 5th largest position. Harvest Fund Management Co. Ltd's holdings in Tesla were worth $86,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of Tesla in the 1st quarter worth about $12,361,000. RD Finance Ltd bought a new stake in shares of Tesla during the 1st quarter valued at $625,000. FSA Advisors Inc. lifted its holdings in shares of Tesla by 22.2% in the first quarter. FSA Advisors Inc. now owns 898 shares of the electric vehicle producer's stock worth $233,000 after buying an additional 163 shares in the last quarter. Federated Hermes Inc. lifted its stake in Tesla by 1.0% in the 1st quarter. Federated Hermes Inc. now owns 320,710 shares of the electric vehicle producer's stock worth $83,115,000 after purchasing an additional 3,060 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Tesla by 94.2% during the first quarter. Geneos Wealth Management Inc. now owns 38,466 shares of the electric vehicle producer's stock valued at $9,969,000 after buying an additional 18,663 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company'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 owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 723,119 shares of company stock worth $247,324,149. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TSLA shares. Royal Bank Of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Robert W. Baird restated a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $302.75.

Tesla Trading Up 3.0%

Tesla stock opened at $325.59 on Tuesday. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The business's fifty day moving average is $324.37 and its 200 day moving average is $313.04. The stock has a market capitalization of $1.05 trillion, a PE ratio of 188.20, a price-to-earnings-growth ratio of 9.93 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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 analysts' consensus estimates of $0.43 by ($0.03). The company 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 revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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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