Legacy Private Trust Co. increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 88.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,214 shares of the electric vehicle producer's stock after purchasing an additional 5,737 shares during the period. Legacy Private Trust Co.'s holdings in Tesla were worth $3,880,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in TSLA. Means Investment CO. Inc. boosted its stake 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 in the last quarter. Focus Financial Network Inc. grew its holdings in shares of Tesla by 3.1% during the 1st 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. purchased a new position in Tesla in the 1st quarter worth $2,332,000. Zuckerman Investment Group LLC boosted its position in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after buying an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new stake in Tesla during the first quarter valued at about $594,000. Hedge funds and other institutional investors own 66.20% of the company's stock.
Analyst Ratings Changes
TSLA has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Mizuho lowered their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $303.00.
Read Our Latest Research Report on TSLA
Insider Buying and Selling
In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $42,034,800.00. Following the transaction, the director 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. Insiders have sold 148,606 shares of company stock worth $51,999,662 in the last 90 days. Insiders own 20.70% of the company's stock.
Tesla Stock Up 7.4%
NASDAQ:TSLA opened at $395.94 on Monday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a market capitalization of $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 13.81 and a beta of 2.06. The firm's 50-day moving average price is $328.89 and its 200-day moving average price is $303.72. 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 announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 analysts' expectations of $23.18 billion. During the same quarter last year, the company posted $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
About Tesla
(
Free Report)
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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