Tesla, Inc. $TSLA Shares Acquired by Zuckerman Investment Group LLC

Key Points

• Zuckerman Investment Group LLC increased its holdings in Tesla by 6.9% during the first quarter, now owning 12,748 shares valued at approximately $3.3 million.
• Institutional investors own 66.20% of Tesla's stock, with several firms significantly raising their stakes, including an 86.3% increase by Cherry Tree Wealth Management.
• Tesla's most recent quarterly earnings showed a miss on estimates, reporting earnings per share of $0.40 against a consensus of $0.43, with revenue also falling short at $22.5 billion.

Zuckerman Investment Group LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,748 shares of the electric vehicle producer's stock after buying an additional 826 shares during the quarter. Zuckerman Investment Group LLC's holdings in Tesla were worth $3,304,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% during the 1st 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 period. Nuveen LLC acquired a new position in Tesla during the first quarter worth $3,247,619,000. GAMMA Investing LLC raised its position in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Northern Trust Corp raised its position in 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 acquiring an additional 5,075,418 shares during the period. Finally, Vanguard Group Inc. raised its position in Tesla by 1.5% during the first 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. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated 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 sale, the senior vice president owned 67,600 shares in the company, 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. Insiders have sold 150,564 shares of company stock worth $51,792,190 over the last three months. Company insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $303.31.

Tesla Trading Down 3.5%

TSLA traded down $12.11 on Friday, hitting $333.87. The company had a trading volume of 80,898,652 shares, compared to its average volume of 76,110,896. The firm has a market cap of $1.08 trillion, a P/E ratio of 192.99, a PEG ratio of 12.03 and a beta of 2.33. Tesla, Inc. has a 1 year low of $205.97 and a 1 year high of $488.54. The company's fifty day moving average price is $323.59 and its 200 day moving average price is $303.15. 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 (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.