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Whittier Trust Co. of Nevada Inc. Increases Stock Position in Tesla, Inc. $TSLA

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Key Points

  • Whittier Trust Co. of Nevada increased its Tesla position by 13.1% in Q1, buying 11,789 additional shares and bringing its total stake to 101,550 shares worth about $35.8 million.
  • Tesla’s latest earnings beat EPS expectations, reporting $0.41 per share versus $0.39 expected, while revenue rose 15.8% year over year to $22.39 billion.
  • The stock has drawn mixed analyst views: the current consensus rating is Hold with an average price target of $403.92, even as some firms maintained or lowered their targets amid valuation concerns.
  • Five stocks we like better than Tesla.

Whittier Trust Co. of Nevada Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,550 shares of the electric vehicle producer's stock after purchasing an additional 11,789 shares during the period. Tesla accounts for approximately 0.7% of Whittier Trust Co. of Nevada Inc.'s holdings, making the stock its 29th biggest position. Whittier Trust Co. of Nevada Inc.'s holdings in Tesla were worth $35,829,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TSLA. PFS Partners LLC increased its stake in Tesla by 4.2% in the 4th quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer's stock worth $265,000 after acquiring an additional 24 shares during the last quarter. Boltwood Capital Management boosted its position in shares of Tesla by 1.2% during the 4th quarter. Boltwood Capital Management now owns 2,120 shares of the electric vehicle producer's stock valued at $953,000 after acquiring an additional 25 shares during the last quarter. Woodmont Investment Counsel LLC grew its holdings in shares of Tesla by 1.2% in the fourth quarter. Woodmont Investment Counsel LLC now owns 2,124 shares of the electric vehicle producer's stock valued at $955,000 after purchasing an additional 25 shares in the last quarter. Aspect Partners LLC increased its position in Tesla by 12.5% in the fourth quarter. Aspect Partners LLC now owns 225 shares of the electric vehicle producer's stock worth $101,000 after purchasing an additional 25 shares during the last quarter. Finally, Human Investing LLC increased its position in Tesla by 4.5% in the fourth quarter. Human Investing LLC now owns 578 shares of the electric vehicle producer's stock worth $260,000 after purchasing an additional 25 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

TSLA stock opened at $393.45 on Monday. The stock has a market cap of $1.48 trillion, a PE ratio of 360.96, a P/E/G ratio of 15.61 and a beta of 1.80. Tesla, Inc. has a 12 month low of $288.77 and a 12 month high of $498.83. The company has a 50-day moving average price of $407.39 and a 200 day moving average price of $411.34. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. During the same period in the prior year, the company posted $0.27 EPS. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. BTIG Research cut shares of Tesla to a "neutral" rating in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Tesla in a report on Tuesday, June 30th. Mizuho reduced their price objective on Tesla from $540.00 to $480.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Tigress Financial began coverage on Tesla in a research report on Monday, April 27th. They set a "buy" rating on the stock. Finally, TD Cowen reaffirmed a "buy" rating on shares of Tesla in a research note on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $403.92.

Check Out Our Latest Analysis on TSLA

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer directly owned 22,039 shares in the company, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company's stock, valued at $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 32,015 shares of company stock worth $12,383,640. Company insiders own 19.90% of the company's stock.

Tesla Profile

(Free Report)

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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