Tesla, Inc. (NASDAQ:TSLA) Shares Sold by BTC Capital Management Inc.

BTC Capital Management Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,882 shares of the electric vehicle producer’s stock after selling 275 shares during the period. BTC Capital Management Inc.’s holdings in Tesla were worth $5,818,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Tesla by 0.7% during the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock worth $20,680,162,000 after purchasing an additional 685,454 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tesla by 1.9% during the first quarter. Geode Capital Management LLC now owns 50,047,967 shares of the electric vehicle producer’s stock worth $10,358,912,000 after purchasing an additional 938,216 shares during the period. FMR LLC boosted its holdings in shares of Tesla by 3.9% during the first quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock worth $6,913,893,000 after purchasing an additional 1,244,230 shares during the period. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth approximately $3,459,540,000. Finally, Moneta Group Investment Advisors LLC boosted its holdings in shares of Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. 41.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 3rd. Morgan Stanley upgraded shares of Tesla from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $250.00 to $400.00 in a research note on Sunday, September 10th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating in a research note on Monday, June 12th. Canaccord Genuity Group lifted their target price on shares of Tesla from $257.00 to $293.00 and gave the company a “buy” rating in a research note on Monday, July 3rd. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $150.00 target price on shares of Tesla in a research note on Thursday, July 20th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $239.43.

Tesla Trading Down 3.3 %

Shares of TSLA stock opened at $265.28 on Tuesday. The stock has a market cap of $842.00 billion, a price-to-earnings ratio of 75.15, a P/E/G ratio of 4.28 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The firm has a fifty day moving average of $255.83 and a 200-day moving average of $220.81. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $313.80.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $24.93 billion during the quarter, compared to analysts’ expectations of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the completion of the sale, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,249,350.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the sale, the chief financial officer now directly owns 197,540 shares in the company, valued at approximately $55,054,398. The disclosure for this sale can be found here. Insiders sold 55,815 shares of company stock worth $14,384,135 in the last quarter. 20.90% of the stock is owned by corporate 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. It 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, retail merchandise, and vehicle insurance services.