Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by FCG Investment Co

Key Points

• FCG Investment Co increased its stake in Tesla, Inc. by 546.9% in Q1, holding 8,339 shares valued at approximately $2.16 million.
• Investment analysts have mixed views on Tesla, with a current average rating of "Hold" and a consensus price target of $303.31.
• Tesla's most recent earnings report revealed an 11.8% decrease in quarterly revenue compared to the same period last year, along with an EPS of $0.40, missing estimates.

FCG Investment Co increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 546.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,339 shares of the electric vehicle producer's stock after acquiring an additional 7,050 shares during the period. Tesla makes up approximately 1.4% of FCG Investment Co's holdings, making the stock its 21st largest holding. FCG Investment Co's holdings in Tesla were worth $2,161,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. Morgan Stanley restated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Finally, William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Trading Down 1.5%

Shares of Tesla stock opened at $330.56 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 191.08, a price-to-earnings-growth ratio of 11.49 and a beta of 2.33. The business has a fifty day simple moving average of $320.41 and a 200-day simple moving average of $305.24. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 net margin of 6.54% and a return on equity of 7.98%. The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other 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 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 $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 599,724 shares of company stock worth $213,126,501. Corporate insiders own 20.70% of the company's stock.

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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