Belmont Capital LLC Has $8.45 Million Stake in Tesla, Inc. $TSLA

Key Points

• Belmont Capital LLC increased its stake in Tesla, Inc. by 16.9%, now holding 32,587 shares valued at approximately $8.45 million, making it the firm's 12th largest position.
• Tesla's quarterly earnings report showed earnings per share of $0.40, missing estimates by $0.03, with revenue of $22.50 billion, down 11.8% year-over-year.
• Insider trading activity included Director James R. Murdoch selling 120,000 shares for over $42 million, resulting in a 14.69% decrease in his ownership stake.

Belmont Capital LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,587 shares of the electric vehicle producer's stock after acquiring an additional 4,700 shares during the period. Tesla makes up approximately 1.5% of Belmont Capital LLC's investment portfolio, making the stock its 12th largest position. Belmont Capital LLC's holdings in Tesla were worth $8,445,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TSLA. Eagle Capital Management LLC bought a new stake in shares of Tesla during the fourth quarter worth approximately $331,000. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Tesla during the fourth quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE bought a new stake in shares of Tesla during the fourth quarter worth approximately $2,367,000. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Benchmark reiterated a "buy" rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Price Performance

NASDAQ TSLA traded up $4.44 on Thursday, hitting $338.53. 60,470,316 shares of the company's stock were exchanged, compared to its average volume of 72,309,936. The stock has a 50-day moving average of $323.45 and a 200-day moving average of $302.67. 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, Inc. has a 52 week low of $210.51 and a 52 week high of $488.54. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 195.68, a P/E/G ratio of 11.66 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for 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 quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,564 shares of company stock worth $49,396,070. Corporate insiders own 20.70% of the company's stock.

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.