Tesla, Inc. $TSLA Shares Acquired by Marietta Wealth Management LLC

Key Points

• Marietta Wealth Management LLC increased its holdings in Tesla by 19.8% during the second quarter, now owning 3,388 shares worth approximately $1,076,000.
• Several major hedge funds have also boosted their stakes in Tesla, with Goldman Sachs increasing its position by 322.1% in the first quarter of the year.
• Tesla reported earnings of $0.40 per share for the last quarter, missing expectations by $0.03, while revenue decreased by 11.8% year-over-year.

Marietta Wealth Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,388 shares of the electric vehicle producer's stock after purchasing an additional 560 shares during the quarter. Marietta Wealth Management LLC's holdings in Tesla were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. increased its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after purchasing an additional 849,091 shares during the period. Amundi boosted its holdings in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group set a $247.00 target price on Tesla in a report on Monday. Stifel Nicolaus set a $440.00 price objective on Tesla in a report on Friday, September 5th. Dbs Bank lifted their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $344.40.

Tesla Stock Up 5.4%

Shares of NASDAQ:TSLA opened at $453.25 on Tuesday. The company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 261.99, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a 50 day moving average of $366.57 and a two-hundred day moving average of $324.02. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated 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 directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% 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 this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Corporate insiders own 19.90% 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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