BTC Capital Management Inc. Raises Stake in Tesla, Inc. $TSLA

Key Points

• BTC Capital Management Inc. has increased its shareholding in Tesla by 60.0%, acquiring an additional 11,295 shares, bringing its total to 30,132 shares valued at approximately $9.54 million.
• Tesla's financial performance includes a 0.40 EPS for the last quarter, slightly missing the consensus estimate, with a revenue decline of 11.8% year-over-year.
• Insider trading activity reports show that Tesla CFO Vaibhav Taneja and SVP Xiaotong Zhu have sold significant shares, contributing to a total of 208,606 shares sold by company insiders over the past three months.

BTC Capital Management Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 60.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,132 shares of the electric vehicle producer's stock after purchasing an additional 11,295 shares during the quarter. BTC Capital Management Inc.'s holdings in Tesla were worth $9,542,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. increased its stake in 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 worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the last quarter. Amundi increased its position in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock traded up $8.14 during mid-day trading on Monday, hitting $434.21. The stock had a trading volume of 96,526,944 shares, compared to its average volume of 103,372,102. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a market cap of $1.44 trillion, a PE ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company's 50-day simple moving average is $340.68 and its 200-day simple moving average is $308.67.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Mizuho dropped their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. William Blair reissued a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Guggenheim reissued a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Canaccord Genuity Group increased their target price on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $324.53.

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.