Tesla, Inc. $TSLA Shares Sold by Conning Inc.

Conning Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,669 shares of the electric vehicle producer’s stock after selling 557 shares during the quarter. Conning Inc.’s holdings in Tesla were worth $5,295,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSLA. Trust Co. of Toledo NA OH boosted its stake in Tesla by 17.2% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 3,403 shares of the electric vehicle producer’s stock worth $1,081,000 after purchasing an additional 500 shares in the last quarter. JNBA Financial Advisors lifted its stake in shares of Tesla by 29.5% during the second quarter. JNBA Financial Advisors now owns 1,569 shares of the electric vehicle producer’s stock worth $498,000 after buying an additional 357 shares during the period. SLT Holdings LLC lifted its stake in shares of Tesla by 35.6% during the second quarter. SLT Holdings LLC now owns 8,586 shares of the electric vehicle producer’s stock worth $2,727,000 after buying an additional 2,252 shares during the period. Drucker Wealth 3.0 LLC lifted its stake in shares of Tesla by 34.4% during the second quarter. Drucker Wealth 3.0 LLC now owns 4,842 shares of the electric vehicle producer’s stock worth $1,433,000 after buying an additional 1,240 shares during the period. Finally, Von Berge Wealth Management Group LLC lifted its position in Tesla by 0.7% during the 2nd quarter. Von Berge Wealth Management Group LLC now owns 6,792 shares of the electric vehicle producer’s stock worth $2,256,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

TSLA opened at $413.49 on Monday. The company has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm’s fifty day simple moving average is $375.97 and its two-hundred day simple moving average is $328.28. 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 (NASDAQ:TSLA) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $0.52 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Bank of America increased their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. TD Cowen increased their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, China Renaissance restated a “hold” rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Two research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $354.67.

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.