Tesla, Inc. $TSLA Shares Bought by Acropolis Investment Management LLC

Key Points

• Acropolis Investment Management LLC increased its Tesla holdings by 24% in the second quarter, acquiring an additional 699 shares, bringing its total to 3,614 shares worth approximately $1.15 million.
• Hedge funds and institutional investors collectively own 66.20% of Tesla's stock, with significant increases in holdings from firms like Goldman Sachs and GAMMA Investing LLC.
• Tesla's quarterly earnings report showed a miss in EPS, with $0.40 reported versus the expected $0.43, alongside a revenue drop of 11.8% year-over-year.

Acropolis Investment Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,614 shares of the electric vehicle producer's stock after purchasing an additional 699 shares during the period. Acropolis Investment Management LLC's holdings in Tesla were worth $1,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC raised its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. 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 valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. lifted its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value 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. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 in the last three months. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Up 1.9%

Shares of TSLA traded up $8.14 during trading hours on Monday, hitting $434.21. The company had a trading volume of 96,526,944 shares, compared to its average volume of 86,280,128. 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, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock's 50 day moving average price is $343.03 and its 200 day moving average price is $309.87. The firm has a market cap of $1.44 trillion, a P/E ratio of 250.99, a P/E/G ratio of 14.86 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 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TSLA shares. Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research report on Friday, September 5th. CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $320.00 to $548.00 in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $324.53.

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.