Trilogy Capital Inc. Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Trilogy Capital Inc. increased its stock position in Tesla, Inc. by 19.0% during the first quarter, raising their holdings to 5,101 shares valued at $1.32 million.
• Institutional investors now collectively own 66.20% of Tesla's stock, with significant increases in holdings from companies like Cherry Tree Wealth Management and First PREMIER Bank.
• Despite a miss on earnings with an EPS of $0.40 compared to estimates of $0.43, Tesla's shares are currently trading above $316 with a market cap of $1.02 trillion.

Trilogy Capital Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,101 shares of the electric vehicle producer's stock after purchasing an additional 813 shares during the period. Trilogy Capital Inc.'s holdings in Tesla were worth $1,322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in 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 during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter worth about $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLA. Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday. Wedbush reiterated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Tuesday. HSBC reiterated a "reduce" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Finally, The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $302.75.

Tesla Trading Up 3.5%

Shares of TSLA opened at $316.06 on Friday. The firm has a 50 day moving average price of $324.70 and a 200-day moving average price of $314.65. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.04. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 11.59 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on 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 completion of the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by corporate insiders.

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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