BancFirst Trust & Investment Management bought a new position in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 797 shares of the electric vehicle producer’s stock, valued at approximately $205,000.
A number of other large investors have also recently added to or reduced their stakes in TSLA. State Street Corp increased its stake in shares of Tesla by 0.7% in the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock worth $20,680,162,000 after purchasing an additional 685,454 shares during the period. Geode Capital Management LLC grew its holdings in Tesla by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 50,047,967 shares of the electric vehicle producer’s stock valued at $10,358,912,000 after buying an additional 938,216 shares during the last quarter. FMR LLC increased its position in Tesla by 3.9% in the 1st quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock worth $6,913,893,000 after buying an additional 1,244,230 shares during the period. Norges Bank bought a new stake in shares of Tesla in the fourth quarter valued at approximately $3,459,540,000. Finally, Moneta Group Investment Advisors LLC grew its stake in shares of Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after acquiring an additional 26,836,879 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.
In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the completion of the sale, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,249,350.42. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 1,065 shares of Tesla stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total value of $265,845.30. Following the transaction, the senior vice president now owns 59,540 shares in the company, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders sold a total of 55,815 shares of company stock valued at $14,384,135 in the last ninety days. 25.10% of the stock is owned by insiders.
Tesla Price Performance
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The business had revenue of $24.93 billion during the quarter, compared to analysts’ expectations of $24.22 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating in a research note on Monday, June 12th. Morgan Stanley upgraded shares of Tesla from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $250.00 to $400.00 in a research note on Sunday, September 10th. UBS Group began coverage on Tesla in a research note on Tuesday. They set a “neutral” rating and a $290.00 price target on the stock. Wells Fargo & Company raised their price objective on Tesla from $170.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Monday, July 17th. Finally, The Goldman Sachs Group boosted their price objective on Tesla from $248.00 to $275.00 and gave the company a “neutral” rating in a research report on Monday, July 3rd. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $239.43.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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