5 Investors Betting Big on Tesla (TSLA) Stock Right Now

  • Tesla (TSLA) just reported fourth-quarter earnings, with revenue coming in at $24.3 billion versus the analyst estimate of $24.16 billion.
  • CEO Elon Musk is the largest shareholder of the company, owning 423.62 million shares as of Dec. 14.
  • TSLA stock is up more than 8% today.
Tesla Motors Assembly Plant in Tilburg, Netherlands.
Source: Shutterstock

All eyes are on Tesla (NASDAQ:TSLA) stock today after the leading electric vehicle (EV) company reported fourth-quarter earnings yesterday. During the quarter, Tesla produced a total of 439,701 vehicles and delivered 405,278 vehicles. That translated to revenue of $24.3 billion, up 37% year-over-year (YOY). Analysts polled by Refinitiv had expected revenue of $24.16 billion for the period.

More specifically, automotive revenue tallied in at $21.3 billion, up 33% YOY. Further, $467 million of automotive revenue was attributed to regulatory credits. Meanwhile, adjusted earnings per share (EPS) tallied in at $1.19 versus the analyst estimate of $1.13 per share. The company reported an adjusted EPS of 85 cents a year ago.

That said, Tesla’s automotive gross margin did clock in at 25.9%, which is “the lowest figure in the last five quarters.” This figure was affected by supply-chain inefficiencies and average sale prices that have “generally been on a downward trajectory for many years.”

For 2023, Tesla has a production goal of 1.8 million vehicles. When asked about the lower-than-expected guidance, CEO Elon Musk said the following:

“We’re saying 1.8 because there always seems to be some friggin’ force majeure thing that happens somewhere on Earth. We don’t control if there’s earthquakes, tsunamis, wars, pandemics, etc. If it’s a smooth year, without some big supply chain interruption or massive problem we have the potential to do 2 million cars this year. I think there would be demand for that, too.”

5 Investors Betting Big on TSLA Stock Right Now

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q3, a healthy 2,639 13F filers disclosed ownership of TSLA stock, an increase of 100 filers from the prior quarter. Meanwhile, the institutional put/call ratio sits at 1.02, up from 0.95. That’s equivalent to 268.75 million puts and 262.36 million calls, implying a neutral options stance. With that in mind, let’s take a look at the top shareholders of Tesla:

  1. Elon Musk: 423.62 million shares. Musk’s stake is accurate as of Dec. 14.
  2. Vanguard: 213.02 million shares. Vanguard purchased 8.3 million shares during Q3.
  3. BlackRock (NYSE:BLK): 171.86 million shares. BlackRock purchased 5.75 million shares during Q3.
  4. State Street (NYSE:STT): 99.64 million shares. State Street purchased 4.28 million shares during Q3.
  5. Capital World Investors: 90.16 million shares. Capital World sold 344,888 shares during Q3.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/5-investors-betting-big-on-tesla-tsla-stock-right-now/.

©2023 InvestorPlace Media, LLC