Marco Investment Management LLC Acquires 784 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Marco Investment Management LLC increased its stake in Tesla by 4.6%, acquiring an additional 784 shares, bringing its total holdings to 17,719 shares valued at approximately $4.59 million.
• Research analysts hold a split view on Tesla, with 10 sell ratings, 15 hold ratings, and 17 buy ratings, resulting in a consensus rating of "Hold" and an average price target of $302.75.
• Insider trading activity included Director Ira Matthew Ehrenpreis selling 477,572 shares at an average price of $357.30, drastically reducing his position by 35.83%.

Marco Investment Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,719 shares of the electric vehicle producer's stock after acquiring an additional 784 shares during the quarter. Marco Investment Management LLC's holdings in Tesla were worth $4,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% in the first 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 during the period. First PREMIER Bank increased its stake in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC lifted its holdings in Tesla by 250.0% during 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 period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC increased its stake in shares of 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. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded down $4.11 during trading on Friday, reaching $304.16. The company's stock had a trading volume of 67,095,970 shares, compared to its average volume of 107,742,898. The stock has a 50-day moving average price of $322.96 and a two-hundred day moving average price of $312.48. The stock has a market capitalization of $981.06 billion, a P/E ratio of 175.20, a price-to-earnings-growth ratio of 11.21 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year 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.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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 company 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 firm'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. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TSLA shares. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday. HSBC reiterated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.31.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 sale, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 719,119 shares of company stock valued at $246,186,549. 20.70% of the stock is owned by corporate insiders.

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.