Whittier Trust Co. of Nevada Inc. Has $7.35 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Whittier Trust Co. of Nevada Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 28,359 shares of the electric vehicle producer’s stock after acquiring an additional 887 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Tesla were worth $7,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla during the fourth quarter valued at $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after buying an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Tesla during the fourth quarter valued at about $8,158,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSLA. Glj Research restated a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. William Blair lowered Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Mizuho dropped their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Finally, Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $300.19.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Tesla stock opened at $316.90 on Tuesday. The business’s 50-day simple moving average is $323.33 and its 200 day simple moving average is $318.52. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.12, a P/E/G ratio of 9.33 and a beta of 2.39. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

About Tesla

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.