Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management LLC has increased its stake in Tesla, Inc. to 149,727 shares, representing a 2.1% rise in their position, making it their 9th largest holding worth approximately $38.8 million.
• Several hedge funds have significantly raised their positions in Tesla, with Cherry Tree Wealth Management increasing its holdings by 86.3% and Newton One Investments boosting its stake by 250% in the first quarter.
• Tesla's most recent earnings report revealed a net income of $0.40 per share, which missed analyst expectations of $0.43, alongside a revenue of $22.50 billion, down 11.8% from the same quarter last year.

Motley Fool Asset Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,727 shares of the electric vehicle producer's stock after purchasing an additional 3,008 shares during the quarter. Tesla comprises 2.2% of Motley Fool Asset Management LLC's holdings, making the stock its 9th biggest position. Motley Fool Asset Management LLC's holdings in Tesla were worth $38,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Operose Advisors LLC grew its position in shares of Tesla by 31.2% in the 1st quarter. Operose Advisors LLC now owns 1,102 shares of the electric vehicle producer's stock valued at $286,000 after acquiring an additional 262 shares during the period. Linscomb Wealth Inc. raised its stake in Tesla by 4.5% in the 1st quarter. Linscomb Wealth Inc. now owns 4,165 shares of the electric vehicle producer's stock worth $1,079,000 after purchasing an additional 181 shares in the last quarter. First American Trust FSB raised its position in shares of Tesla by 7.2% in the 1st quarter. First American Trust FSB now owns 1,534 shares of the electric vehicle producer's stock valued at $398,000 after buying an additional 103 shares in the last quarter. SouthState Corp boosted its holdings in shares of Tesla by 174.4% in the 1st quarter. SouthState Corp now owns 8,557 shares of the electric vehicle producer's stock valued at $2,218,000 after purchasing an additional 5,439 shares in the last quarter. Finally, Northeast Financial Group Inc. grew its position in Tesla by 195.5% in the first quarter. Northeast Financial Group Inc. now owns 1,853 shares of the electric vehicle producer's stock valued at $480,000 after acquiring an additional 1,226 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

NASDAQ TSLA traded down $5.24 during trading hours on Thursday, hitting $334.14. The company had a trading volume of 57,731,753 shares, compared to its average volume of 106,053,258. 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 firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 193.08, a PEG ratio of 11.85 and a beta of 2.33. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The firm has a 50 day simple moving average of $318.69 and a 200 day simple moving average of $306.71.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. Tesla's revenue was down 11.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director 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. Insiders have sold 602,724 shares of company stock valued at $214,176,831 over the last 90 days. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the topic of several research reports. Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Guggenheim restated a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Roth Mkm cut their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Ten investment 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 company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $303.31.

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.