Tesla, Inc. $TSLA Shares Sold by Trust Point Inc.

Trust Point Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,831 shares of the electric vehicle producer’s stock after selling 417 shares during the quarter. Trust Point Inc.’s holdings in Tesla were worth $3,758,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after acquiring an additional 670 shares in the last quarter. Siren L.L.C. acquired a new position in shares of Tesla in the first quarter worth about $2,332,000. Zuckerman Investment Group LLC lifted its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new position in shares of Tesla in the first quarter worth about $594,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $416.85 on Friday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 240.95, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The business has a 50 day simple moving average of $338.43 and a 200 day simple moving average of $307.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Canaccord Genuity Group upped their price objective on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Dbs Bank upped their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday. Finally, Mizuho lowered their target price on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $310.79.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.