First Merchants Corp Has $767,000 Stake in Tesla, Inc. $TSLA

First Merchants Corp increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,413 shares of the electric vehicle producer’s stock after acquiring an additional 31 shares during the period. First Merchants Corp’s holdings in Tesla were worth $767,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TSLA. Goldman Sachs Group Inc. increased its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tesla during the 1st quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC increased its holdings in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Amundi increased its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a report on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Tesla in a report on Friday, September 26th. TD Cowen raised their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday. Finally, China Renaissance reaffirmed a “hold” rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $349.37.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA stock opened at $435.54 on Friday. The stock has a 50 day moving average of $373.75 and a two-hundred day moving average of $326.64. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.45 trillion, a P/E ratio of 251.76, a P/E/G ratio of 16.04 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company 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, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.