Tesla, Inc. $TSLA Shares Bought by Southeast Asset Advisors LLC

Key Points

• Southeast Asset Advisors LLC significantly increased its holdings in Tesla, Inc. by 305.3% during the 1st quarter, now owning 8,012 shares valued at over $2 million.
• Tesla's recent earnings report revealed $0.40 earnings per share, missing estimates, with revenue falling 11.8% compared to the previous year.
• Institutional investors own 66.20% of Tesla's stock, with several firms like Vanguard Group and Goldman Sachs also increasing their positions in the electric vehicle company.

Southeast Asset Advisors LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 305.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,012 shares of the electric vehicle producer's stock after acquiring an additional 6,035 shares during the period. Southeast Asset Advisors LLC's holdings in Tesla were worth $2,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position 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 in the last quarter. Northern Trust Corp raised its position in shares of Tesla by 21.6% during the 4th 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 in the last quarter. Goldman Sachs Group Inc. raised its position 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 acquiring an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after acquiring an additional 158,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 4.9% during the 1st 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 acquiring an additional 849,091 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 6.2%

Shares of TSLA stock opened at $340.01 on Friday. The business's 50 day moving average is $321.27 and its two-hundred day moving average is $303.08. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54. The company has a market capitalization of $1.10 trillion, a P/E ratio of 196.54, a price-to-earnings-growth ratio of 11.82 and a beta of 2.33. 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 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 company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $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 599,724 shares of company stock valued at $213,126,501 in the last three months. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TSLA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Company 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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