Ensign Peak Advisors Inc Trims Stake in Tesla, Inc. $TSLA

Ensign Peak Advisors Inc decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,108,228 shares of the electric vehicle producer’s stock after selling 153,966 shares during the period. Tesla accounts for 1.1% of Ensign Peak Advisors Inc’s investment portfolio, making the stock its 13th biggest position. Ensign Peak Advisors Inc owned approximately 0.07% of Tesla worth $669,700,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Chelsea Counsel Co. raised its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $29,000. Evergreen Private Wealth LLC raised its holdings 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 acquiring an additional 81 shares during the last quarter. Glynn Capital Management LLC purchased a new position in shares of Tesla during the 2nd quarter worth $35,000. Finally, LSV Asset Management boosted its holdings in shares of Tesla by 400.0% during the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated 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 directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last quarter. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Up 0.6%

NASDAQ:TSLA opened at $403.82 on Thursday. The business’s 50-day moving average is $433.12 and its two-hundred day moving average is $363.32. The firm has a market capitalization of $1.34 trillion, a PE ratio of 269.21, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TSLA shares. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. CICC Research raised their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. New Street Research increased their price target on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group lowered their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, Truist Financial increased their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $394.31.

About Tesla

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.