Wilmington Savings Fund Society FSB Has $6.15 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Tesla by 6.2%, owning 19,360 shares valued at $6.15 million after selling 1,287 shares in the second quarter.
• Analysts have mixed opinions on Tesla, with ratings varying from Strong Buy to Sell, reflecting a consensus rating of "Hold" and a price target of $363.03.
• Tesla's recent earnings report showed a quarterly revenue decline of 11.8% year-over-year, with earnings per share of $0.40, missing analyst expectations of $0.43.

Wilmington Savings Fund Society FSB cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,360 shares of the electric vehicle producer's stock after selling 1,287 shares during the period. Wilmington Savings Fund Society FSB's holdings in Tesla were worth $6,150,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First Merchants Corp grew its stake in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock worth $767,000 after purchasing an additional 31 shares in the last quarter. KWB Wealth lifted its position in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after acquiring an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after buying an additional 34 shares during the period. Guyasuta Investment Advisors Inc. grew its stake in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock worth $1,622,000 after purchasing an additional 34 shares during the period. Finally, Acorn Creek Capital LLC grew its stake in Tesla by 1.6% in the second quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer's stock valued at $697,000 after acquiring an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. China Renaissance restated a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. 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 report on Friday, October 10th. HSBC raised their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Finally, Wedbush lifted their price objective on Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $363.03.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $435.15 on Thursday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock's 50 day moving average price is $383.21 and its 200-day moving average price is $330.90. The company has a market capitalization of $1.45 trillion, a PE ratio of 251.53, a PEG ratio of 15.47 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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 return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. Corporate 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.

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