Tesla, Inc. $TSLA Stock Holdings Lifted by New Harbor Financial Group LLC

Key Points

• New Harbor Financial Group LLC increased its stake in Tesla, Inc. by 74.6% in Q1, owning 3,444 shares valued at approximately $893,000.
• Institutional investors now hold 66.20% of Tesla's stock, with several firms like GDS Wealth Management and Tradition Wealth Management also significantly increasing their holdings during the same period.
• Despite a consensus "Hold" rating and a price target of $303.31 from analysts, Tesla's stock has faced challenges, with recent earnings falling short of expectations.

New Harbor Financial Group LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 74.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,444 shares of the electric vehicle producer's stock after buying an additional 1,471 shares during the period. Tesla makes up about 0.2% of New Harbor Financial Group LLC's investment portfolio, making the stock its 22nd largest holding. New Harbor Financial Group LLC's holdings in Tesla were worth $893,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. GDS Wealth Management increased its holdings in shares of Tesla by 106.8% in the first quarter. GDS Wealth Management now owns 1,487 shares of the electric vehicle producer's stock valued at $385,000 after buying an additional 768 shares in the last quarter. Capital Analysts LLC grew its position in Tesla by 46.9% during the 1st quarter. Capital Analysts LLC now owns 4,060 shares of the electric vehicle producer's stock worth $1,052,000 after purchasing an additional 1,297 shares in the last quarter. Tradition Wealth Management LLC grew its position in Tesla by 33.7% during the 1st quarter. Tradition Wealth Management LLC now owns 11,793 shares of the electric vehicle producer's stock worth $3,056,000 after purchasing an additional 2,975 shares in the last quarter. EntryPoint Capital LLC grew its position in Tesla by 79.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,301 shares of the electric vehicle producer's stock worth $337,000 after purchasing an additional 575 shares in the last quarter. Finally, ZEGA Investments LLC grew its position in Tesla by 74.0% during the 1st quarter. ZEGA Investments LLC now owns 18,415 shares of the electric vehicle producer's stock worth $4,772,000 after purchasing an additional 7,833 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group set a $290.00 price objective on shares of Tesla in a research report on Monday, June 30th. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Mizuho lowered their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Down 1.7%

Tesla stock opened at $329.31 on Wednesday. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.35, a P/E/G ratio of 11.65 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54. The firm has a fifty day moving average price of $321.01 and a two-hundred day moving average price of $304.26.

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

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 over the last ninety days. Corporate 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.

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