Zurcher Kantonalbank Zurich Cantonalbank Buys 206,659 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Zurcher Kantonalbank increased its stake in Tesla by 13.9%, owning approximately 1.69 million shares valued at $438 million, making Tesla its 12th largest position.
• Hedge funds and other institutional investors own 66.20% of Tesla's stock, with prominent firms like FMR LLC and GAMMA Investing significantly increasing their holdings.
• Tesla's stock missed earnings estimates with an EPS of $0.40, while revenue declined 11.8% year-over-year to $22.5 billion for the last quarter.

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,690,203 shares of the electric vehicle producer's stock after purchasing an additional 206,659 shares during the period. Tesla makes up approximately 1.3% of Zurcher Kantonalbank Zurich Cantonalbank's investment portfolio, making the stock its 12th largest holding. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Tesla worth $438,033,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TSLA. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla in the fourth quarter valued at about $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. IFM Investors Pty Ltd lifted its holdings in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $8,158,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 over the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday. HSBC reissued a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Canaccord Genuity Group increased their price target on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $302.75.

Tesla Price Performance

NASDAQ TSLA traded up $9.53 on Monday, hitting $325.59. 112,366,948 shares of the company's stock were exchanged, compared to its average volume of 93,243,432. The stock has a 50-day moving average of $324.70 and a 200-day moving average of $313.53. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 185.92, a P/E/G ratio of 9.93 and a beta of 2.39.

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 the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts expect 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.