US Bancorp DE Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

US Bancorp DE increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,411 shares of the electric vehicle producer’s stock after purchasing an additional 11,860 shares during the period. US Bancorp DE’s holdings in Tesla were worth $64,520,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Axiom Financial Strategies LLC grew its position in Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after acquiring an additional 164,789 shares during the last quarter. MAS Advisors LLC grew its position in Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares during the last quarter. Ergoteles LLC grew its position in shares of Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after buying an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after buying an additional 4,593 shares in the last quarter. 41.87% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 2.4 %

Shares of Tesla stock traded down $5.93 during trading hours on Thursday, hitting $236.91. 38,869,328 shares of the company’s stock traded hands, compared to its average volume of 139,576,313. The stock has a 50 day simple moving average of $240.68 and a 200-day simple moving average of $236.68. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.04. The company has a market cap of $753.12 billion, a PE ratio of 78.08, a PEG ratio of 4.16 and a beta of 2.28. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). The firm had revenue of $23.35 billion during the quarter, compared to analyst estimates of $24.19 billion. Tesla had a return on equity of 21.47% and a net margin of 11.21%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $210.67, for a total value of $2,212,035.00. Following the completion of the transaction, the senior vice president now directly owns 68,102 shares in the company, valued at $14,347,048.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $210.67, for a total transaction of $2,212,035.00. Following the sale, the senior vice president now owns 68,102 shares of the company’s stock, valued at $14,347,048.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $257.23, for a total value of $643,075.00. Following the sale, the senior vice president now directly owns 57,972 shares in the company, valued at approximately $14,912,137.56. The disclosure for this sale can be found here. Insiders sold a total of 43,065 shares of company stock worth $10,248,880 over the last ninety days. Company insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $300.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Citigroup decreased their price target on Tesla from $271.00 to $255.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $305.00 price target on shares of Tesla in a research note on Tuesday, September 26th. JPMorgan Chase & Co. increased their price target on Tesla from $120.00 to $135.00 in a research note on Tuesday, October 3rd. Finally, Mizuho increased their price target on Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $235.20.

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. 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.