Davidson Trust Co. Has $1.02 Million Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Davidson Trust Co. increased its Tesla holdings by 37.2% in Q2, now owning 3,210 shares worth approximately $1.02 million.
• Other institutional investors have also shown increased interest in Tesla, with 66.20% of the company's stock owned by hedge funds and institutional investors.
• Tesla's stock is currently rated with a consensus of "Hold" and several analysts have set target prices between $374 and $509.

Davidson Trust Co. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,210 shares of the electric vehicle producer's stock after purchasing an additional 870 shares during the quarter. Davidson Trust Co.'s holdings in Tesla were worth $1,020,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Means Investment CO. Inc. lifted its holdings in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Siren L.L.C. acquired a new stake in Tesla during the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC lifted its holdings in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new stake in Tesla during the 1st quarter valued at $594,000. Finally, Strs Ohio acquired a new stake in shares of Tesla during the first quarter worth $205,495,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated 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 transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last 90 days. Insiders own 19.90% of the company's stock.

Tesla Stock Up 1.4%

TSLA stock opened at $435.15 on Thursday. The company has a market cap of $1.45 trillion, a PE ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08. The business has a 50-day simple moving average of $383.21 and a 200 day simple moving average of $330.90. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating on shares of Tesla in a report on Wednesday. Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a "buy" rating in a report on Wednesday, October 8th. TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $363.03.

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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