Tesla, Inc. $TSLA Shares Sold by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super Pty Ltd reduced its stake in Tesla, Inc. by 1.5% during Q2, bringing its total holdings to 339,356 shares, worth approximately $107.8 million.
• Multiple analysts updated their price targets for Tesla, with estimates ranging from $150 to $548, showing a strong overall positive outlook despite recent performance misses.
• Insider trading activity saw notable sales, including a senior vice president selling 20,000 shares and a director selling 120,000 shares, highlighting a decrease in insider ownership amidst fluctuating stock dynamics.

Aware Super Pty Ltd as trustee of Aware Super trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,356 shares of the electric vehicle producer's stock after selling 5,137 shares during the quarter. Tesla accounts for 1.6% of Aware Super Pty Ltd as trustee of Aware Super's portfolio, making the stock its 9th largest position. Aware Super Pty Ltd as trustee of Aware Super's holdings in Tesla were worth $107,800,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC raised its stake in 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 acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter worth $27,000. Chelsea Counsel Co. raised its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Finally, Evergreen Private Wealth LLC raised its stake in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock worth $35,000 after acquiring an additional 81 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Melius Research set a $520.00 price objective on Tesla and gave the stock a "buy" rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Royal Bank Of Canada raised their target price on Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and raised their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $363.54.

Tesla Price Performance

Shares of TSLA opened at $428.75 on Friday. 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 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market cap of $1.43 trillion, a P/E ratio of 247.83, a price-to-earnings-growth ratio of 15.64 and a beta of 2.08. The stock's 50-day moving average price is $385.34 and its two-hundred day moving average price is $332.07.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business posted $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was 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 in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.