WPG Advisers LLC Purchases New Position in Tesla, Inc. $TSLA

Key Points

• WPG Advisers LLC has made a new investment of approximately $281,000 in Tesla, purchasing 1,086 shares in the first quarter.
• Other institutional investors, including Means Investment CO. Inc., Focus Financial Network Inc., and IFM Investors Pty Ltd, have also increased their stakes in Tesla, indicating strong investor interest.
• Tesla's stock has recently decreased by 1.0%, and the company reported an EPS of $0.40 for the last quarter, which missed analysts' expectations.

WPG Advisers LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,086 shares of the electric vehicle producer's stock, valued at approximately $281,000.

Several other institutional investors have also modified their holdings of TSLA. Eagle Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter worth $331,000. Brighton Jones LLC raised its holdings in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Tesla in the 4th quarter valued at about $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in Tesla in the 4th quarter valued at about $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Down 3.5%

NASDAQ:TSLA traded down $12.11 on Friday, reaching $333.87. 80,898,652 shares of the company's stock were exchanged, compared to its average volume of 76,110,896. The business has a fifty day moving average of $323.59 and a 200-day moving average of $303.15. 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, Inc. has a 52-week low of $205.97 and a 52-week high of $488.54. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 192.99, a price-to-earnings-growth ratio of 11.61 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. HSBC restated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,000 shares of the company'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 transaction 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 represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,564 shares of company stock worth $51,792,190. Company insiders own 20.70% of the company's stock.

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.