Indiana Trust & Investment Management CO grew its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,998 shares of the electric vehicle producer’s stock after purchasing an additional 45 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Tesla were worth $785,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of TSLA. Nordea Investment Management AB raised its position in Tesla by 0.9% in the 2nd quarter. Nordea Investment Management AB now owns 777,554 shares of the electric vehicle producer’s stock valued at $203,330,000 after buying an additional 7,258 shares during the last quarter. Somerset Trust Co bought a new stake in shares of Tesla in the 2nd quarter worth $1,000,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Tesla by 9.9% in the second quarter. Harvest Fund Management Co. Ltd now owns 45,010 shares of the electric vehicle producer’s stock valued at $11,778,000 after purchasing an additional 4,042 shares during the last quarter. Greenfield Savings Bank lifted its position in shares of Tesla by 107.1% during the second quarter. Greenfield Savings Bank now owns 2,293 shares of the electric vehicle producer’s stock valued at $600,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Enterprise Bank & Trust Co purchased a new position in Tesla during the second quarter worth about $358,000. Hedge funds and other institutional investors own 41.87% of the company’s stock.
Insider Activity at Tesla
In other news, SVP Andrew D. Baglino sold 10,500 shares of the 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 transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the completion of the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at $16,249,350.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 2,500 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $276.35, for a total value of $690,875.00. Following the transaction, the senior vice president now owns 62,938 shares in the company, valued at $17,392,916.30. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock valued at $14,384,135 over the last three months. 25.10% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Tesla Trading Down 0.6 %
Tesla stock opened at $274.39 on Friday. The stock has a market cap of $870.91 billion, a P/E ratio of 77.73, a PEG ratio of 4.30 and a beta of 2.09. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $313.80. The firm’s fifty day moving average price is $255.83 and its 200-day moving average price is $220.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The firm had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter last year, the firm posted $0.65 EPS. The company’s revenue was up 47.2% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.
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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