Tesla, Inc. $TSLA Shares Bought by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp increased its stake in Tesla by 2.2%, now holding 50,928 shares valued at approximately $13.2 million.
• Tesla reported earnings per share of $0.40 for the last quarter, missing the consensus estimate of $0.43 and experiencing an 11.8% drop in quarterly revenue compared to the previous year.
• According to analyst ratings, Tesla has an average rating of "Hold" with a price target of $303.31, evidencing mixed investor sentiment on the stock.

Hancock Whitney Corp increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,928 shares of the electric vehicle producer's stock after acquiring an additional 1,081 shares during the period. Hancock Whitney Corp's holdings in Tesla were worth $13,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank grew its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at about $27,000. Finally, Centennial Bank AR lifted its holdings in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ TSLA opened at $334.09 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 capitalization of $1.08 trillion, a price-to-earnings ratio of 193.12, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06. The company has a 50 day simple moving average of $323.20 and a 200-day simple moving average of $302.79. Tesla, Inc. has a 52-week low of $210.51 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,564 shares of company stock valued at $49,396,070. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Benchmark restated a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Finally, Wedbush reaffirmed an "outperform" rating and set a $500.00 target price on shares of Tesla in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $303.31.

Tesla Profile

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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