RNC Capital Management LLC Acquires 723 Shares of Tesla, Inc. $TSLA

RNC Capital Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,700 shares of the electric vehicle producer's stock after acquiring an additional 723 shares during the period. RNC Capital Management LLC's holdings in Tesla were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of TSLA. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter valued at about $27,000. Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares in the last quarter. Centennial Bank AR boosted its holdings in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after buying an additional 100 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Tesla in the 2nd quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC raised its position in shares of Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $438.97 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.74, a price-to-earnings-growth ratio of 15.91 and a beta of 2.08. The company has a 50 day moving average price of $393.73 and a 200-day moving average price of $336.97. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $28.10 billion for the quarter, compared to analysts' expectations of $24.98 billion. During the same quarter last year, the company earned $0.72 EPS. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tesla in a research report on Wednesday, October 15th. Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. CICC Research increased their price objective on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $366.95.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% 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.

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