MassMutual Private Wealth & Trust FSB Grows Stock Holdings in Tesla, Inc. $TSLA

Key Points

• MassMutual Private Wealth & Trust FSB increased its holdings in Tesla, Inc. by 1.9%, acquiring an additional 798 shares for a total investment worth $13.4 million.
• Several hedge funds have modified their positions in Tesla, with notable increases including a 37.7% lift by Means Investment CO. Inc. during the first quarter.
• Director James R. Murdoch sold 120,000 shares of Tesla stock, decreasing his position by 14.69%, while insiders have sold a total of 148,606 shares valued at nearly $52 million in the last 90 days.

MassMutual Private Wealth & Trust FSB raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,339 shares of the electric vehicle producer's stock after buying an additional 798 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Tesla were worth $13,449,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its position in shares of Tesla by 3.1% in 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 shares of Tesla in the 1st quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC raised its position in shares of Tesla by 6.9% in 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. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla in the 1st quarter valued at approximately $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, 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 sale, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,606 shares of company stock valued at $51,999,662 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Wedbush reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a report on Monday. China Renaissance reiterated a "hold" rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $303.00.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $410.04 on Tuesday. The stock has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm's 50 day simple moving average is $331.21 and its 200-day simple moving average is $304.53. 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 issued its quarterly earnings data 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 firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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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