J.Safra Asset Management Corp lowered its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 9.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,765 shares of the electric vehicle producer’s stock after selling 1,307 shares during the quarter. Tesla comprises about 0.3% of J.Safra Asset Management Corp’s holdings, making the stock its 25th biggest position. J.Safra Asset Management Corp’s holdings in Tesla were worth $4,131,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Means Investment CO. Inc. raised its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the period. Siren L.L.C. bought a new stake in Tesla during the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC raised its holdings in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the period. Keystone Global Partners LLC bought a new stake in Tesla during the first quarter valued at about $594,000. Finally, Strs Ohio bought a new stake in Tesla during the first quarter valued at about $205,495,000. Institutional investors own 66.20% of the company’s stock.
Tesla Trading Up 1.4%
Shares of TSLA stock opened at $435.15 on Thursday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $383.21 and its 200-day moving average price is $330.90. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08.
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, 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 legal filing with the SEC, which is available through this link. Also, 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 value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was 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 over the last ninety days. 19.90% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on TSLA. Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Stifel Nicolaus set a $483.00 price target on Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $355.00 price target on shares of Tesla in a report on Friday, October 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $363.03.
View Our Latest Analysis on TSLA
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.
See Also
- Five stocks we like better than Tesla
- How to Buy Gold Stock and Invest in Gold
- Palantir’s New Healthcare Deal Boosts AI and Data Reach
- What is the MACD Indicator and How to Use it in Your Trading
- GM’s Billion-Dollar Bruise: GM’s Strategic Pivot Makes It a Buy
- Transportation Stocks Investing
- Novo Nordisk’s Akero Therapeutics Buy Targets Eli Lilly’s Lead
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.