Tesla, Inc. $TSLA Shares Acquired by RPG Investment Advisory LLC

Key Points

• RPG Investment Advisory LLC increased its stake in Tesla by 120.5%, now owning 3,482 shares valued at approximately $902,000.
• Hedge funds collectively own 66.20% of Tesla's stock, with multiple firms increasing their positions in the company.
• Tesla's recent quarterly earnings report showed EPS of $0.40, missing analysts' estimates, and a revenue decrease of 11.8% year-over-year.

RPG Investment Advisory LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 120.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,482 shares of the electric vehicle producer's stock after purchasing an additional 1,903 shares during the quarter. RPG Investment Advisory LLC's holdings in Tesla were worth $902,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TSLA. Eagle Capital Management LLC acquired a new position in Tesla during the 4th quarter worth approximately $331,000. Brighton Jones LLC boosted its position in Tesla by 11.8% during the 4th 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 position in Tesla by 21.2% during the 4th 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. acquired a new stake in shares of Tesla in the fourth quarter valued at $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in shares of Tesla during the fourth quarter worth $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Benchmark reaffirmed a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Finally, Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $303.31.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 599,724 shares of company stock worth $213,126,501. Insiders own 20.70% of the company's stock.

Tesla Trading Down 1.2%

Tesla stock opened at $320.11 on Friday. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market capitalization of $1.03 trillion, a P/E ratio of 185.03, a PEG ratio of 11.26 and a beta of 2.33. The stock has a 50-day simple moving average of $320.98 and a 200 day simple moving average of $303.96.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS 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 for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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