Tesla, Inc. (NASDAQ:TSLA) Shares Bought by SLT Holdings LLC

Key Points

• SLT Holdings LLC increased its stake in Tesla by 32.4% during the first quarter, now owning a total of 6,334 shares valued at approximately $1.64 million.
• Institutional investors collectively own 66.20% of Tesla's stock, with significant increases in stakes from firms like FMR LLC and Northern Trust Corp in the last quarter.
• Tesla reported $0.40 EPS for the latest quarter, missing expectations, with revenue declining 11.8% year-over-year at $22.50 billion.

SLT Holdings LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,334 shares of the electric vehicle producer's stock after acquiring an additional 1,551 shares during the quarter. Tesla makes up 1.6% of SLT Holdings LLC's portfolio, making the stock its 14th biggest holding. SLT Holdings LLC's holdings in Tesla were worth $1,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TSLA. Geode Capital Management LLC grew its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares in the last quarter. FMR LLC grew its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Northern Trust Corp grew its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tesla by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Tesla by 19.8% in the fourth quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after buying an additional 2,170,449 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value 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 disclosure for this sale can be found here. Insiders have sold 723,119 shares of company stock valued at $247,324,149 in the last quarter. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. reduced their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Piper Sandler reissued an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla has an average rating of "Hold" and an average price target of $302.75.

Tesla Trading Up 3.0%

Shares of NASDAQ TSLA opened at $325.59 on Tuesday. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 188.20, a price-to-earnings-growth ratio of 9.93 and a beta of 2.39. Tesla, Inc. has a 12-month low of $182.00 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 stock's 50 day simple moving average is $324.37 and its 200 day simple moving average is $313.04.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. Equities research analysts expect 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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