United Asset Strategies Inc. Grows Holdings in Tesla, Inc. $TSLA

Key Points

• United Asset Strategies Inc. increased its holdings in Tesla, Inc. by 19.7%, acquiring an additional 2,257 shares, bringing its total to 13,711 shares worth approximately $3,553,000.
• Several institutional investors also boosted their positions in Tesla during the first quarter, with notable increases including an 86.3% stake increase by Cherry Tree Wealth Management LLC.
• Tesla reported a quarterly EPS of $0.40, missing expectations, with revenues of $22.50 billion, down 11.8% year-over-year, while it retains a market cap of $1.04 trillion.

United Asset Strategies Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,711 shares of the electric vehicle producer's stock after acquiring an additional 2,257 shares during the quarter. United Asset Strategies Inc.'s holdings in Tesla were worth $3,553,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC boosted its position in shares of 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 period. First PREMIER Bank lifted its stake in Tesla by 79.2% during 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 in the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla in the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC increased its stake 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 purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 1.6%

TSLA opened at $323.90 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a one year low of $202.59 and a one year high of $488.54. The company has a market cap of $1.04 trillion, a P/E ratio of 187.23, a PEG ratio of 11.45 and a beta of 2.33. The business's 50-day simple moving average is $320.96 and its 200-day simple moving average is $304.40.

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). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,724 shares of company stock valued at $213,126,501. Corporate insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Guggenheim reiterated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Robert W. Baird restated a "neutral" rating and set a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Finally, China Renaissance reaffirmed a "hold" rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $303.31.

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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