US Bancorp DE Purchases 20,888 Shares of Tesla, Inc. $TSLA

US Bancorp DE boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 356,579 shares of the electric vehicle producer’s stock after purchasing an additional 20,888 shares during the quarter. US Bancorp DE’s holdings in Tesla were worth $113,271,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Armstrong Fleming & Moore Inc bought a new position in Tesla in the second quarter worth $1,805,000. Fulton Breakefield Broenniman LLC raised its holdings in Tesla by 4.2% in the second quarter. Fulton Breakefield Broenniman LLC now owns 7,476 shares of the electric vehicle producer’s stock worth $2,375,000 after purchasing an additional 302 shares in the last quarter. Allegiance Financial Group Advisory Services LLC bought a new position in shares of Tesla during the second quarter valued at $330,000. Cornerstone Enterprises LLC increased its holdings in shares of Tesla by 1.4% during the second quarter. Cornerstone Enterprises LLC now owns 7,575 shares of the electric vehicle producer’s stock valued at $2,406,000 after acquiring an additional 106 shares in the last quarter. Finally, Windle Wealth LLC increased its holdings in shares of Tesla by 77.3% during the second quarter. Windle Wealth LLC now owns 1,722 shares of the electric vehicle producer’s stock valued at $547,000 after acquiring an additional 751 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Morgan Stanley restated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Thursday, October 2nd. William Blair restated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. JPMorgan Chase & Co. raised their price target on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Finally, Glj Research restated a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $354.67.

Tesla Trading Down 5.1%

Tesla stock opened at $413.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08. The business’s fifty day moving average is $375.97 and its 200 day moving average is $327.51.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

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.