Tesla, Inc. (NASDAQ:TSLA) Shares Bought 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 raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 149,727 shares of the electric vehicle producer's stock after acquiring an additional 3,008 shares during the period. Tesla makes up 2.2% of Motley Fool Asset Management LLC's investment portfolio, making the stock its 9th largest holding. Motley Fool Asset Management LLC's holdings in Tesla were worth $38,803,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% in 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 last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter worth approximately $27,000. Finally, True Wealth Design LLC lifted its position in Tesla by 79.5% during 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 in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. Robert W. Baird reiterated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Finally, Raymond James Financial downgraded shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Ten research 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock worth $214,176,831 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 2.3%

Shares of TSLA opened at $329.61 on Monday. The stock's 50-day moving average price is $318.68 and its 200-day moving average price is $306.71. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $194.67 and a 52 week high of $488.54. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.53, a PEG ratio of 11.46 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $23.18 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company's quarterly revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.