1ST Source Bank Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

1ST Source Bank lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 29.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,074 shares of the electric vehicle producer’s stock after selling 453 shares during the quarter. 1ST Source Bank’s holdings in Tesla were worth $213,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter valued at about $7,844,757,000. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 21,816.0% during the second 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 position in shares of Tesla by 1.7% in the 4th 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Tesla by 2,101.1% in the 4th 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position 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 worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 0.2 %

Shares of TSLA opened at $230.29 on Friday. The firm’s fifty day moving average is $223.37 and its two-hundred day moving average is $194.63. The stock has a market cap of $735.69 billion, a PE ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. 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 52-week low of $138.80 and a 52-week high of $278.98.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) 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 analysts’ expectations of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. HSBC boosted their price target on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Robert W. Baird restated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Royal Bank of Canada dropped their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price target on shares of Tesla in a report on Friday. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $209.60.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.