Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,806 shares of the electric vehicle producer’s stock after selling 12,611 shares during the period. Tesla accounts for approximately 1.2% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 12th largest position. Elo Mutual Pension Insurance Co’s holdings in Tesla were worth $49,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank & Trust Co acquired a new position in Tesla during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter worth approximately $26,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the 4th quarter valued at $37,000. Guardian Wealth Management Inc. acquired a new stake in Tesla during the 4th quarter worth $47,000. Finally, Kessler Investment Group LLC increased its stake in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TSLA shares. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 price target on shares of Tesla in a report on Friday, September 13th. Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Finally, Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

Shares of TSLA stock opened at $227.87 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market capitalization of $726.72 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.93. The company’s 50-day simple moving average is $222.16 and its 200-day simple moving average is $194.93.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during 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%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. Equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.