UMB Bank n.a. Sells 2,612 Shares of Tesla, Inc. $TSLA

Key Points

• UMB Bank n.a. reduced its stake in Tesla, Inc. by 1.7%, now owning 150,408 shares worth approximately $47.78 million.
• Institutional investors hold 66.20% of Tesla's shares, reflecting ongoing interest despite recent adjustments in some investors' stakes.
• Analysts have a consensus rating of "Hold" on Tesla with an average price target of $317.70, amidst differing opinions on the stock's performance.

UMB Bank n.a. lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,408 shares of the electric vehicle producer's stock after selling 2,612 shares during the quarter. Tesla comprises about 0.7% of UMB Bank n.a.'s portfolio, making the stock its 29th biggest holding. UMB Bank n.a.'s holdings in Tesla were worth $47,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its holdings in 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 buying an additional 42 shares during the last quarter. Newton One Investments LLC grew its holdings in 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 last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. grew its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was 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 in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 1.9%

Shares of TSLA traded up $8.14 on Monday, hitting $434.21. The company's stock had a trading volume of 96,526,944 shares, compared to its average volume of 103,372,102. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm's fifty day moving average price is $340.68 and its 200-day moving average price is $308.67. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 250.99, a P/E/G ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business 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%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a report on Friday, September 5th. The Goldman Sachs Group raised their price objective on shares of Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a report on Thursday. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Finally, Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average price target of $324.53.

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.