Tradition Wealth Management LLC Boosts Stock Position in Tesla, Inc. $TSLA

Key Points

• Tradition Wealth Management LLC increased its stake in Tesla, Inc. by 33.7%, owning 11,793 shares valued at approximately $3.06 million after acquiring an additional 2,975 shares in the first quarter.
• Other institutional investors also significantly boosted their positions in Tesla, with EntryPoint Capital LLC increasing its stake by 79.2% and Banco Bilbao Vizcaya Argentaria S.A. raising its holdings by 38.4%.
• Tesla's latest quarterly earnings report revealed a miss on EPS estimates with $0.40 against a consensus of $0.43, and revenues of $22.50 billion, which was below analyst expectations.

Tradition Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,793 shares of the electric vehicle producer's stock after buying an additional 2,975 shares during the quarter. Tradition Wealth Management LLC's holdings in Tesla were worth $3,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC increased its stake in shares of Tesla by 79.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,301 shares of the electric vehicle producer's stock worth $337,000 after acquiring an additional 575 shares during the last quarter. ZEGA Investments LLC grew its holdings in shares of Tesla by 74.0% in the first quarter. ZEGA Investments LLC now owns 18,415 shares of the electric vehicle producer's stock valued at $4,772,000 after purchasing an additional 7,833 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Tesla by 38.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 225,764 shares of the electric vehicle producer's stock worth $58,103,000 after purchasing an additional 62,645 shares during the last quarter. Groupama Asset Managment raised its stake in Tesla by 6.1% during the first quarter. Groupama Asset Managment now owns 170,346 shares of the electric vehicle producer's stock worth $44,895,000 after purchasing an additional 9,771 shares during the period. Finally, Academy Capital Management boosted its holdings in Tesla by 5.5% in the 1st quarter. Academy Capital Management now owns 1,248 shares of the electric vehicle producer's stock valued at $323,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $329.31 on Wednesday. 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 $1.06 trillion, a P/E ratio of 190.35, a P/E/G ratio of 11.65 and a beta of 2.33. The stock has a 50-day moving average of $321.01 and a two-hundred day moving average of $304.26. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate 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 net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TSLA shares. JPMorgan Chase & Co. cut their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Canaccord Genuity Group raised their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. HSBC reaffirmed a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Finally, Cantor Fitzgerald cut their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $303.31.

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.

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