Van Hulzen Asset Management LLC Acquires 12,958 Shares of Tesla, Inc. $TSLA

Key Points

• Van Hulzen Asset Management LLC increased its stake in Tesla by 17.4% during the first quarter, now holding 87,229 shares valued at approximately $22.6 million.
• Tesla's recent quarterly earnings revealed an EPS of $0.40, which was below expectations, while revenue of $22.5 billion fell short of analyst predictions.
• Institutional investors currently own 66.20% of Tesla's stock, illustrating strong interest from large financial entities in the company.

Van Hulzen Asset Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 87,229 shares of the electric vehicle producer's stock after purchasing an additional 12,958 shares during the quarter. Tesla accounts for 2.1% of Van Hulzen Asset Management LLC's portfolio, making the stock its 8th largest position. Van Hulzen Asset Management LLC's holdings in Tesla were worth $22,606,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla during the 4th quarter worth $56,600,000. Means Investment CO. Inc. lifted its holdings in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares in the last quarter. Keystone Global Partners LLC purchased a new stake in shares of Tesla during the first quarter worth $594,000. Finally, IFM Investors Pty Ltd raised its holdings in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 1.2%

Shares of NASDAQ:TSLA opened at $320.11 on Friday. The company has a market cap of $1.03 trillion, a P/E ratio of 185.03, a P/E/G ratio of 11.26 and a beta of 2.33. The stock's 50-day moving average is $320.98 and its 200-day moving average is $303.96. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. 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 (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 analyst estimates 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 prior year, the business posted $0.52 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TSLA shares. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Wedbush reiterated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a report on Monday, August 4th. Robert W. Baird reiterated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. One equities 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $303.31.

Insider Transactions at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock valued at $213,126,501 in the last ninety days. 20.70% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.