BTC Capital Management Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,882 shares of the electric vehicle producer’s stock after selling 275 shares during the quarter. BTC Capital Management Inc.’s holdings in Tesla were worth $5,818,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Lakewood Asset Management LLC bought a new stake in Tesla in the fourth quarter valued at approximately $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla in the third quarter valued at approximately $27,000. GW&K Investment Management LLC bought a new position in shares of Tesla during the 1st quarter worth approximately $30,000. MayTech Global Investments LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $30,000. Finally, St. Johns Investment Management Company LLC boosted its holdings in shares of Tesla by 451.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 41.87% of the company’s stock.
Wall Street Analysts Forecast Growth
TSLA has been the topic of a number of research analyst reports. Guggenheim restated a “sell” rating and set a $125.00 price target on shares of Tesla in a report on Monday. Bank of America upped their target price on Tesla from $225.00 to $300.00 in a research report on Thursday, July 6th. UBS Group started coverage on Tesla in a research report on Tuesday, September 12th. They set a “neutral” rating and a $290.00 target price on the stock. Mizuho upped their target price on Tesla from $300.00 to $330.00 in a research report on Thursday, July 20th. Finally, Citigroup increased their price target on Tesla from $215.00 to $278.00 and gave the company a “neutral” rating in a research report on Wednesday, July 12th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $239.43.
Insiders Place Their Bets
In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Tuesday, June 27th. The stock was 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 directly 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 the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total value of $2,552,865.00. Following the sale, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,249,350.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total value of $1,045,125.00. Following the completion of the sale, the chief financial officer now owns 197,540 shares in the company, valued at $55,054,398. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock valued at $14,384,135 in the last ninety days. Company insiders own 20.90% of the company’s stock.
Tesla Stock Performance
Shares of NASDAQ TSLA opened at $265.28 on Tuesday. The stock has a market cap of $842.00 billion, a price-to-earnings ratio of 75.15, a P/E/G ratio of 4.28 and a beta of 2.09. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $313.80. The stock’s 50-day moving average is $255.83 and its 200 day moving average is $220.81.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. Tesla’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.94 EPS 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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