Tesla, Inc. $TSLA Shares Purchased by OFI Invest Asset Management

Key Points

• OFI Invest Asset Management increased its stake in Tesla by 8.3% in Q2, acquiring an additional 17,757 shares for a total value of $73.86 million.
• Multiple analysts have revised their price targets for Tesla, with Robert W. Baird raising it from $320 to $548, while Canaccord Genuity set theirs at $490.
• Tesla reported earnings per share of $0.40 for the last quarter, missing estimates of $0.43, with revenue decreasing 11.8% year-over-year to $22.5 billion.

OFI Invest Asset Management boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 232,505 shares of the electric vehicle producer's stock after acquiring an additional 17,757 shares during the quarter. OFI Invest Asset Management's holdings in Tesla were worth $73,858,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Canaccord Genuity Group raised their price target on shares of Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Industrial Alliance Securities set a $300.00 price target on shares of Tesla in a research report on Monday. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, The Goldman Sachs Group upped their price target on Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $363.03.

Tesla Stock Performance

TSLA stock opened at $435.90 on Tuesday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $378.50 and its 200 day simple moving average is $329.48. The firm has a market cap of $1.45 trillion, a P/E ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last three months. Company insiders own 19.90% of the company's stock.

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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