First Western Trust Bank lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,015 shares of the electric vehicle producer’s stock after selling 129 shares during the quarter. First Western Trust Bank’s holdings in Tesla were worth $266,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Tesla during the fourth quarter valued at approximately $3,459,540,000. Moneta Group Investment Advisors LLC grew its holdings in Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after purchasing an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Tesla by 203.9% in the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after acquiring an additional 13,558,882 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Tesla by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,224,189 shares of the electric vehicle producer’s stock worth $5,440,471,000 after acquiring an additional 9,034,938 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Tesla by 98,265.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,971,790 shares of the electric vehicle producer’s stock worth $1,563,235,000 after acquiring an additional 5,965,719 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.
Insider Buying and Selling at Tesla
In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total value of $1,000,080.00. Following the transaction, the chief financial officer now directly owns 104,504 shares in the company, valued at $26,128,090.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 2,500 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $257.23, for a total transaction of $643,075.00. Following the completion of the sale, the senior vice president now directly owns 57,972 shares in the company, valued at approximately $14,912,137.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total value of $1,000,080.00. Following the completion of the transaction, the chief financial officer now owns 104,504 shares in the company, valued at approximately $26,128,090.08. The disclosure for this sale can be found here. Insiders have sold a total of 43,065 shares of company stock valued at $10,248,880 in the last ninety days. 25.10% of the stock is currently owned by corporate insiders.
Tesla Price Performance
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a return on equity of 21.47% and a net margin of 11.21%. The company had revenue of $23.35 billion for the quarter, compared to the consensus estimate of $24.19 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 2.68 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $275.00 price objective on shares of Tesla in a research note on Monday, September 18th. Citigroup decreased their price target on shares of Tesla from $271.00 to $255.00 and set a “neutral” rating on the stock in a research note on Thursday, October 19th. Barclays reiterated an “equal weight” rating and set a $260.00 price target on shares of Tesla in a research note on Friday, September 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $305.00 price target on shares of Tesla in a research note on Tuesday, September 26th. Finally, Roth Mkm reiterated a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Thursday, October 19th. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $233.87.
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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