Wilmington Savings Fund Society FSB Reduces Stock Position in Tesla, Inc. $TSLA

Wilmington Savings Fund Society FSB lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,360 shares of the electric vehicle producer’s stock after selling 1,287 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Tesla were worth $6,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Merchants Corp boosted its holdings in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. KWB Wealth increased its stake in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares during the period. Guyasuta Investment Advisors Inc. increased its stake in Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares during the period. Finally, Acorn Creek Capital LLC increased its position in shares of Tesla by 1.6% in the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. raised their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Canaccord Genuity Group raised their target price on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Melius assumed coverage on shares of Tesla in a report on Monday. They issued a “buy” rating and a $520.00 price target for the company. Finally, Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $363.03.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president 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 disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

TSLA opened at $435.15 on Thursday. The company’s 50 day simple moving average is $383.21 and its 200 day simple moving average is $330.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market capitalization of $1.45 trillion, a PE ratio of 251.53, a P/E/G ratio of 15.47 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 (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company earned $0.52 EPS. Tesla’s revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.