American Trust Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

American Trust reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 16.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,065 shares of the electric vehicle producer’s stock after selling 210 shares during the quarter. American Trust’s holdings in Tesla were worth $211,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and boosted their target price for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $209.90.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s 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 completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,661 shares of company stock worth $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 3.5 %

Shares of TSLA opened at $249.02 on Thursday. The firm has a market cap of $795.53 billion, a P/E ratio of 63.53, a P/E/G ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The stock has a 50 day simple moving average of $222.99 and a two-hundred day simple moving average of $200.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last released 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 business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. On average, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal 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.