Zions Bancorporation National Association UT Purchases 1,232 Shares of Tesla, Inc. $TSLA

Zions Bancorporation National Association UT lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,491 shares of the electric vehicle producer’s stock after purchasing an additional 1,232 shares during the period. Zions Bancorporation National Association UT’s holdings in Tesla were worth $7,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC increased its stake in Tesla by 6.2% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 14,260 shares of the electric vehicle producer’s stock worth $4,530,000 after buying an additional 837 shares in the last quarter. Midwest Trust Co bought a new position in shares of Tesla in the second quarter worth about $61,623,000. LFA Lugano Financial Advisors SA grew its position in shares of Tesla by 18.7% during the second quarter. LFA Lugano Financial Advisors SA now owns 476 shares of the electric vehicle producer’s stock worth $151,000 after purchasing an additional 75 shares in the last quarter. DJE Kapital AG raised its stake in Tesla by 84.9% during the 2nd quarter. DJE Kapital AG now owns 31,620 shares of the electric vehicle producer’s stock valued at $10,163,000 after purchasing an additional 14,520 shares during the period. Finally, FDx Advisors Inc. lifted its holdings in Tesla by 32.3% in the 2nd quarter. FDx Advisors Inc. now owns 2,517 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 615 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $429.52 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a fifty day simple moving average of $420.97 and a two-hundred day simple moving average of $355.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the company earned $0.72 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’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 in the company, valued at $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 available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. 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 brokerages have issued reports on TSLA. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. BNP Paribas Exane initiated coverage on shares of Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price for the company. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, TD Cowen increased their price objective on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and eleven have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $391.08.

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.