Tesla, Inc. $TSLA Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,140 shares of the electric vehicle producer’s stock after selling 576 shares during the period. Raiffeisen Bank International AG’s holdings in Tesla were worth $7,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new position in shares of Tesla in the second quarter worth $29,000. Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. Evergreen Private Wealth LLC grew its position in Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares in the last quarter. Glynn Capital Management LLC acquired a new position in Tesla during the 2nd quarter valued at about $35,000. Finally, Maseco LLP bought a new stake in shares of Tesla during the 2nd quarter worth about $39,000. 66.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s 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 sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Melius initiated coverage on shares of Tesla in a research note on Monday, October 13th. They set a “buy” rating and a $520.00 price objective on the stock. Barclays reiterated a “negative” rating and set a $350.00 price target (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Stifel Nicolaus upped their price objective on Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a report on Monday. Melius Research set a $520.00 target price on Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Piper Sandler upped their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $394.31.

Tesla Trading Up 1.1%

NASDAQ:TSLA opened at $408.92 on Tuesday. The stock has a fifty day simple moving average of $430.92 and a 200 day simple moving average of $362.23. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 272.61, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period last year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.