Mission Creek Capital Partners Inc. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 15.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,247 shares of the electric vehicle producer’s stock after selling 400 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in Tesla were worth $466,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. MidWestOne Financial Group Inc. grew its holdings in Tesla by 3.3% in the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares during the period. Linscomb & Williams Inc. grew its holdings in shares of Tesla by 3.5% during the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after buying an additional 42 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Tesla by 22.3% during the first quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock valued at $283,000 after buying an additional 48 shares during the last quarter. Johnson Bixby & Associates LLC grew its holdings in shares of Tesla by 2.1% during the first quarter. Johnson Bixby & Associates LLC now owns 2,769 shares of the electric vehicle producer’s stock valued at $574,000 after buying an additional 56 shares during the last quarter. Finally, Bridgeworth LLC grew its holdings in shares of Tesla by 1.0% during the first quarter. Bridgeworth LLC now owns 6,038 shares of the electric vehicle producer’s stock valued at $1,253,000 after buying an additional 57 shares during the last quarter. 41.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on TSLA. Truist Financial lifted their price objective on shares of Tesla from $240.00 to $254.00 and gave the company a “hold” rating in a report on Thursday, July 20th. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $115.00 to $120.00 and gave the company an “underweight” rating in a report on Monday, July 3rd. Sanford C. Bernstein reissued an “underperform” rating and set a $150.00 price target on shares of Tesla in a research report on Thursday, July 20th. Wells Fargo & Company raised their price target on shares of Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a research report on Monday, July 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 3rd. Six analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $233.77.
Tesla Price Performance
Shares of NASDAQ:TSLA opened at $248.50 on Friday. The company has a 50 day moving average of $256.44 and a 200 day moving average of $218.23. The stock has a market cap of $788.74 billion, a P/E ratio of 70.40, a P/E/G ratio of 3.92 and a beta of 2.09. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $313.80. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating the consensus estimate of $0.69 by $0.22. The company 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%. Tesla’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.94 EPS for the current fiscal year.
Insiders Place Their Bets
In other Tesla news, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Zachary Kirkhorn sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the completion of the sale, the chief financial officer now directly owns 197,540 shares in the company, valued at approximately $55,054,398. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the sale, the senior vice president now owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders sold a total of 58,315 shares of company stock valued at $15,034,135 in the last quarter. Corporate 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. 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.
Featured Stories
- Five stocks we like better than Tesla
- What is a Special Dividend?
- MarketBeat Week in Review – 9/4 – 9/8
- High Dividend REITs: Are They an Ideal Way to Diversify?
- The Best 5 Small Cap AI Companies to Buy Now
- What Are the U.K. Market Holidays? How to Invest and Trade
- Miso Robotics Stock: Is an IPO Coming Soon?
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA – Free Report).
Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.
