Diversified Trust Co Purchases 1,296 Shares of Tesla, Inc. $TSLA

Key Points

• Diversified Trust Co increased its stake in Tesla by 2.5% in Q2, now holding 53,192 shares valued at approximately $16.9 million.
• Tesla's Q2 earnings report showed $0.40 EPS, missing estimates, and a revenue of $22.50 billion, down 11.8% year-over-year.
• Institutional investors currently own 66.20% of Tesla, with various firms adjusting their positions, including a notable 581,880.5% increase in Kingstone Capital Partners' stake.

Diversified Trust Co raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,192 shares of the electric vehicle producer's stock after buying an additional 1,296 shares during the quarter. Diversified Trust Co's holdings in Tesla were worth $16,897,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Means Investment CO. Inc. increased its holdings in 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 buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its holdings in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Siren L.L.C. acquired a new position in Tesla during the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC grew 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 during the last quarter. Finally, Keystone Global Partners LLC acquired a new stake in shares of Tesla in the first quarter worth $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Dbs Bank raised their target price on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Piper Sandler lifted their price objective on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research report on Monday. Wedbush restated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Monday, September 15th. Finally, Stifel Nicolaus set a $440.00 target price on Tesla in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $324.53.

Tesla Stock Up 1.9%

Shares of NASDAQ:TSLA traded up $8.14 during mid-day trading on Monday, hitting $434.21. 95,337,065 shares of the company traded hands, compared to its average volume of 103,328,805. The stock has a market cap of $1.44 trillion, a P/E ratio of 250.99, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a 50-day moving average price of $340.68 and a two-hundred day moving average price of $308.67.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for 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 firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock worth $77,360,462. 20.70% of the stock is owned by company insiders.

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.