Chevy Chase Trust Holdings LLC Grows Stake in Tesla, Inc. $TSLA

Key Points

• Chevy Chase Trust Holdings LLC increased its Tesla stake by 0.8% in Q2, owning 1,485,331 shares valued at approximately $471.83 million, making it the firm's 12th largest holding.
• Corporate insiders sold a total of 202,606 shares of Tesla valued at $75.59 million over the last quarter, with notable sales from SVP Xiaotong Zhu and Director James R. Murdoch.
• Tesla's recent earnings report showed an EPS of $0.40, falling short of analyst expectations, with revenue down 11.8% year-over-year at $22.5 billion.

Chevy Chase Trust Holdings LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,485,331 shares of the electric vehicle producer's stock after purchasing an additional 11,768 shares during the quarter. Tesla comprises approximately 1.4% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 12th biggest holding. Chevy Chase Trust Holdings LLC's holdings in Tesla were worth $471,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank grew its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter worth $27,000. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Finally, Centennial Bank AR lifted its stake in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction 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. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

Tesla Trading Up 2.5%

NASDAQ TSLA opened at $439.31 on Friday. The company has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a P/E/G ratio of 15.41 and a beta of 2.08. The company has a fifty day moving average of $387.54 and a 200 day moving average of $333.25. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. 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 - Get Free Report) last posted its 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TSLA. Weiss Ratings reiterated a "hold (c)" rating on shares of Tesla in a research note on Wednesday, October 8th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. UBS Group set a $247.00 price objective on shares of Tesla in a research note on Monday, October 6th. Finally, Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $363.54.

About Tesla

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.

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