US Bancorp DE Buys 20,888 Shares of Tesla, Inc. $TSLA

Key Points

• US Bancorp DE increased its stake in Tesla by 6.2%, acquiring an additional 20,888 shares, totaling 356,579 shares valued at approximately $113.27 million.
• Several institutional investors recently increased their positions in Tesla, with notable increases including Bison Wealth LLC growing their stake by 52.2% in the fourth quarter.
• Despite reporting a miss on earnings with $0.40 per share against expectations of $0.43, analysts have upped target prices for Tesla, with Mizuho setting a new price target of $450.

US Bancorp DE grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 356,579 shares of the electric vehicle producer's stock after buying an additional 20,888 shares during the period. US Bancorp DE's holdings in Tesla were worth $113,271,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TSLA. Brighton Jones LLC increased its position in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC increased its position in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Tesla by 6.0% in the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer's stock worth $9,812,000 after purchasing an additional 2,153 shares during the last quarter. Finally, Polianta Ltd bought a new position in shares of Tesla in the first quarter worth approximately $1,114,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $413.49 on Friday. The firm has a market cap of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business has a 50 day moving average price of $375.97 and a 200-day moving average price of $327.51.

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 analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the company posted $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Mizuho upped their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 23rd. Piper Sandler upped their target price on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Royal Bank Of Canada upped their target price on Tesla from $325.00 to $500.00 and gave the stock an "outperform" rating in a research note on Friday. Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a "buy" rating in a research note on Wednesday. Finally, China Renaissance reaffirmed a "hold" rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $354.67.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly 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 disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by company insiders.

Tesla Company 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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