Commerzbank Aktiengesellschaft FI Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Commerzbank Aktiengesellschaft FI decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 22,437 shares of the electric vehicle producer’s stock after selling 2,201 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Tesla were worth $5,870,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc grew its holdings in Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after buying an additional 3,462 shares during the period. NewEdge Advisors LLC increased its stake in shares of Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after acquiring an additional 27,130 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Tesla during the 1st quarter worth about $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Tesla during the 1st quarter worth about $79,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $218.30 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $696.20 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The stock has a 50 day moving average of $228.30 and a 200-day moving average of $206.36.

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

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Argus restated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Glj Research reissued a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Finally, Guggenheim lifted their price target on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $211.63.

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.