Tesla, Inc. (NASDAQ:TSLA) Stock Position Trimmed by Plancorp LLC

Plancorp LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,613 shares of the electric vehicle producer’s stock after selling 1,397 shares during the period. Plancorp LLC’s holdings in Tesla were worth $3,683,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Strategic Financial Concepts LLC raised its stake in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its position in shares of Tesla by 60.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after buying an additional 1,072,366 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $226.78 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.93. The company’s fifty day moving average is $222.85 and its 200-day moving average is $194.75. The firm has a market cap of $723.25 billion, a price-to-earnings ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. HSBC boosted their price objective on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Truist Financial reaffirmed a “hold” rating and set a $215.00 target price on shares of Tesla in a research note on Wednesday, August 14th. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, September 5th. Finally, UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $209.60.

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.