Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Vestcor Inc

Key Points

• Vestcor Inc increased its holdings in Tesla by 3.8% in the first quarter, bringing its total shares to 55,473, valued at approximately $14.38 million.
• Institutional investors own 66.20% of Tesla's stock, with several funds, including Geode Capital and FMR LLC, significantly increasing their stakes during the fourth quarter.
• Tesla reported a net margin of 6.54% for the recent quarter, with $22.50 billion in revenue, falling short of analysts' expectations of $23.18 billion, signifying an 11.8% year-over-year revenue decline.

Vestcor Inc raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,473 shares of the electric vehicle producer's stock after buying an additional 2,045 shares during the period. Vestcor Inc's holdings in Tesla were worth $14,376,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $56,600,000. Means Investment CO. Inc. increased 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 buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% in the 1st 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 during the period. IFM Investors Pty Ltd increased its stake in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in shares of Tesla in the 4th quarter valued at approximately $8,158,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $2.16 during mid-day trading on Wednesday, hitting $319.04. 83,592,884 shares of the company traded hands, compared to its average volume of 92,156,024. The stock's fifty day moving average price is $323.61 and its 200-day moving average price is $313.14. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 184.42, a price-to-earnings-growth ratio of 11.28 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research report on Tuesday. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Robert W. Baird restated a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 723,119 shares of company stock valued at $247,324,149 over the last ninety days. Company insiders own 20.70% of the company's stock.

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.