Nisa Investment Advisors LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Nisa Investment Advisors LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 559,260 shares of the electric vehicle producer’s stock after selling 1,130 shares during the period. Tesla makes up approximately 0.7% of Nisa Investment Advisors LLC’s holdings, making the stock its 18th largest holding. Nisa Investment Advisors LLC’s holdings in Tesla were worth $110,666,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TSLA. International Assets Investment Management LLC increased its stake in shares of Tesla by 5.0% during the 4th quarter. International Assets Investment Management LLC now owns 24,963 shares of the electric vehicle producer’s stock worth $6,203,000 after purchasing an additional 1,189 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of Tesla by 6.3% in the fourth quarter. Roman Butler Fullerton & Co. now owns 1,397 shares of the electric vehicle producer’s stock worth $347,000 after acquiring an additional 83 shares during the last quarter. Cambridge Trust Co. lifted its position in shares of Tesla by 1.8% in the fourth quarter. Cambridge Trust Co. now owns 5,182 shares of the electric vehicle producer’s stock valued at $1,288,000 after acquiring an additional 92 shares in the last quarter. HTLF Bank purchased a new stake in Tesla during the 4th quarter worth about $741,000. Finally, Financial Symmetry Inc acquired a new position in Tesla in the 4th quarter valued at about $499,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. Piper Sandler reaffirmed an “overweight” rating and set a $300.00 price target on shares of Tesla in a research note on Monday. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, July 1st. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. Royal Bank of Canada dropped their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $204.21.

Tesla Stock Up 2.9 %

Shares of NASDAQ TSLA traded up $6.17 during midday trading on Monday, reaching $222.29. 63,540,594 shares of the company’s stock were exchanged, compared to its average volume of 99,094,648. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The business’s fifty day moving average price is $215.14 and its two-hundred day moving average price is $190.99. The stock has a market capitalization of $708.93 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 5.22 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. Analysts forecast that Tesla, Inc. will post 1.79 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.