Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Planning Alternatives Ltd. ADV

Key Points

• Planning Alternatives Ltd. ADV increased its stake in Tesla by 211.9% during Q1, owning 1,893 shares valued at approximately $491,000.
• Insiders at Tesla have sold a total of 606,724 shares worth over $215 million recently, with CFO Vaibhav Taneja and SVP Xiaotong Zhu significantly reducing their ownership.
• Tesla reported $0.40 earnings per share, missing estimates, and experienced an 11.8% year-over-year decline in quarterly revenue.

Planning Alternatives Ltd. ADV raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 211.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,893 shares of the electric vehicle producer's stock after buying an additional 1,286 shares during the period. Planning Alternatives Ltd. ADV's holdings in Tesla were worth $491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 during the period. Nuveen Asset Management LLC lifted its holdings in 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 during the period. GAMMA Investing LLC lifted its holdings in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Tesla by 54.3% in the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after buying an additional 2,978,026 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $11.19 during midday trading on Wednesday, reaching $319.91. 78,040,129 shares of the stock traded hands, compared to its average volume of 91,306,952. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.03 trillion, a PE ratio of 184.92, a P/E/G ratio of 10.85 and a beta of 2.33. Tesla, Inc. has a one year low of $191.48 and a one year high of $488.54. The company's 50 day moving average is $319.80 and its 200 day moving average is $309.56.

Tesla (NASDAQ:TSLA - Get Free Report) last released its 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 return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The business's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. The Goldman Sachs Group lowered their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Roth Mkm lowered their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $303.31.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. 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 firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at approximately $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. Insiders sold 606,724 shares of company stock worth $215,376,831 in the last three months. 20.70% of the stock is owned by company insiders.

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.