Zions Bancorporation National Association UT Increases Position in Tesla, Inc. $TSLA

Zions Bancorporation National Association UT grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,491 shares of the electric vehicle producer’s stock after purchasing an additional 1,232 shares during the period. Zions Bancorporation National Association UT’s holdings in Tesla were worth $7,462,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. First Merchants Corp grew its stake in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares during the last quarter. Alaska Wealth Advisors grew its position in Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth increased its stake in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its stake in Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its holdings in Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 3.7%

TSLA stock opened at $429.52 on Friday. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The business’s 50-day moving average is $420.97 and its two-hundred day moving average is $355.54. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. BNP Paribas Exane assumed coverage on Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price on the stock. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Truist Financial upped their price target on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Finally, Piper Sandler lifted their price objective on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $391.08.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

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. 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.