Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Tesla, Inc. by 2.1%, owning 148,177 shares worth approximately $39.78 million, making it the 13th largest position in the fund's portfolio.
• Tesla's stock price opened at $335.58, reflecting a market capitalization of $1.08 trillion and a one-year trading range between $202.59 and $488.54.
• The recent quarterly earnings report showed Tesla missed EPS estimates, reporting $0.40 compared to expectations of $0.43, with revenue also below forecasts at $22.5 billion.

Ethic Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,177 shares of the electric vehicle producer's stock after buying an additional 3,105 shares during the quarter. Tesla comprises about 0.8% of Ethic Inc.'s investment portfolio, making the stock its 13th biggest position. Ethic Inc.'s holdings in Tesla were worth $39,780,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in shares of Tesla by 5.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 77,530 shares of the electric vehicle producer's stock worth $20,093,000 after purchasing an additional 3,959 shares during the period. Leigh Baldwin & CO. LLC lifted its stake in shares of Tesla by 138.4% during the 1st quarter. Leigh Baldwin & CO. LLC now owns 8,786 shares of the electric vehicle producer's stock worth $2,277,000 after purchasing an additional 5,100 shares during the period. High Falls Advisors Inc lifted its stake in shares of Tesla by 8.5% during the 1st quarter. High Falls Advisors Inc now owns 1,285 shares of the electric vehicle producer's stock worth $333,000 after purchasing an additional 101 shares during the period. Aberdeen Group plc lifted its stake in shares of Tesla by 65.2% during the 1st quarter. Aberdeen Group plc now owns 4,379,832 shares of the electric vehicle producer's stock worth $1,105,382,000 after purchasing an additional 1,729,053 shares during the period. Finally, Liontrust Investment Partners LLP lifted its stake in shares of Tesla by 48.6% during the 1st quarter. Liontrust Investment Partners LLP now owns 64,850 shares of the electric vehicle producer's stock worth $16,807,000 after purchasing an additional 21,216 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Down 1.1%

NASDAQ:TSLA opened at $335.58 on Friday. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 193.98, a price-to-earnings-growth ratio of 11.80 and a beta of 2.33. Tesla, Inc. has a one year low of $202.59 and a one year high of $488.54. The stock has a 50-day simple moving average of $319.71 and a 200 day simple moving average of $306.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock valued at $213,126,501 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. HSBC reaffirmed a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. China Renaissance reaffirmed a "hold" rating and issued a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Barclays cut their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Guggenheim reaffirmed a "sell" rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $303.31.

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.

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