Tesla, Inc. $TSLA Stock Position Increased by Chiron Capital Management LLC

Key Points

• Chiron Capital Management LLC increased its Tesla holdings by 46%, now owning 2,767 shares valued at $717,000, reflecting growing institutional interest in the company.
• Multiple analysts have issued varied ratings and revised price targets for Tesla, with Benchmark setting a new target of $475.00 while Goldman Sachs maintains a "neutral" rating.
• Tesla's recent quarterly earnings showed a miss on earnings per share with $0.40 reported, which was below the expected $0.43, alongside a revenue drop of 11.8% year-over-year.

Chiron Capital Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,767 shares of the electric vehicle producer's stock after purchasing an additional 872 shares during the period. Chiron Capital Management LLC's holdings in Tesla were worth $717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Eagle Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at approximately $331,000. Brighton Jones LLC lifted its position in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in Tesla in the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE acquired a new position in Tesla in the 4th quarter valued at $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Finally, Bank of America increased their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Up 1.0%

Shares of Tesla stock traded up $3.36 on Thursday, reaching $337.45. 50,456,862 shares of the company were exchanged, compared to its average volume of 103,325,469. The stock's 50 day moving average price is $323.20 and its 200-day moving average price is $302.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.09 trillion, a P/E ratio of 194.94, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06. Tesla, Inc. has a 1-year low of $210.51 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the company earned $0.52 earnings per share. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,564 shares of company stock valued at $49,396,070 over the last quarter. Company insiders own 20.70% of the company's stock.

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.