Tesla, Inc. $TSLA Shares Acquired by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its stake in Tesla by 10.9% in the second quarter, holding a total of 283,552 shares valued at approximately $90 million.
• Tesla's stock performed below expectations in the recent quarter, reporting earnings per share of $0.40, missing analysts' estimates of $0.43, with revenue declining by 11.8% year-over-year.
• Wall Street analysts have varied predictions for Tesla, with price targets ranging from $247 to $500, and a consensus rating averaging at "Hold".

Blair William & Co. IL lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 283,552 shares of the electric vehicle producer's stock after buying an additional 27,874 shares during the period. Blair William & Co. IL's holdings in Tesla were worth $90,073,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% during the first 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 raised its holdings in shares of Tesla by 79.2% during the first 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 raised its holdings in shares of 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 purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter valued at $27,000. Finally, Chelsea Counsel Co. increased its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

TSLA opened at $413.49 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a PEG ratio of 15.81 and a beta of 2.08. The firm's 50-day moving average price is $375.97 and its 200 day moving average price is $327.51. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its 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 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 business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Thursday, October 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. UBS Group set a $247.00 price objective on shares of Tesla in a report on Monday. Finally, Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $354.67.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.