Woodline Partners LP Buys 74,716 Shares of Tesla, Inc. $TSLA

Key Points

• Woodline Partners LP increased its stake in Tesla by 44.5%, acquiring 74,716 shares and bringing its total holdings to 242,433 shares valued at approximately $62.8 million.
• Insider trades included Director James R. Murdoch selling 120,000 shares for about $42 million, while CFO Vaibhav Taneja sold 2,000 shares for $600,000.
• Tesla's stock currently has a consensus rating of "Hold" with a price target of $303, although various analysts have differing opinions on its investment potential.

Woodline Partners LP raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 242,433 shares of the electric vehicle producer's stock after purchasing an additional 74,716 shares during the quarter. Woodline Partners LP's holdings in Tesla were worth $62,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cherry Tree Wealth Management LLC lifted its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank raised its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC lifted its stake 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 purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter worth about $27,000. Finally, Centennial Bank AR boosted its holdings in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research reports. Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. China Renaissance restated a "hold" rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Canaccord Genuity Group increased their target price on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $303.00.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $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 have sold 141,000 shares of company stock valued at $48,663,510 over the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Trading Down 1.3%

NASDAQ:TSLA opened at $346.40 on Tuesday. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 200.23, a P/E/G ratio of 12.24 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $324.57 and a 200 day moving average of $301.95. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

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 firm 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%.Tesla's revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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