Commerzbank Aktiengesellschaft FI Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,557 shares of the electric vehicle producer’s stock after buying an additional 1,741 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Tesla were worth $6,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSLA. True Wealth Design LLC increased its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. increased its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC purchased a new stake in Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock worth $279,420,485 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 3.5%

Shares of TSLA stock opened at $321.67 on Thursday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock has a 50 day moving average of $324.95 and a 200 day moving average of $318.49. The stock has a market cap of $1.04 trillion, a P/E ratio of 176.74, a P/E/G ratio of 9.26 and a beta of 2.39.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Raymond James Financial lowered Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their price target on Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a research report on Friday, July 11th. UBS Group set a $290.00 price target on Tesla in a research report on Monday, June 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $300.19.

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.