Hilltop National Bank Acquires New Holdings in Tesla, Inc. $TSLA

Hilltop National Bank bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 864 shares of the electric vehicle producer’s stock, valued at approximately $274,000.

Other institutional investors also recently modified their holdings of the company. Means Investment CO. Inc. grew its holdings in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the 1st 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 during the last quarter. Siren L.L.C. acquired a new stake in Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC grew its holdings in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares during the last quarter. Finally, Keystone Global Partners LLC acquired a new position in Tesla in the 1st quarter valued at approximately $594,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSLA. Mizuho raised their target price on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research report on Saturday, September 27th. Stifel Nicolaus set a $440.00 target price on Tesla in a report on Friday, September 5th. HSBC increased their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, Dbs Bank boosted their price target on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $343.43.

Tesla Trading Down 1.4%

NASDAQ TSLA opened at $429.83 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The business has a 50 day moving average price of $364.02 and a 200-day moving average price of $321.39. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a P/E/G ratio of 15.15 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

Tesla 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.