Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% during the first quarter, Holdings Channel.com reports. The firm owned 25,557 shares of the electric vehicle producer’s stock after buying an additional 1,741 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Tesla were worth $6,623,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. increased its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in shares of Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla during the fourth quarter worth $38,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. HSBC reissued a “reduce” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Robert W. Baird reissued a “neutral” rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Roth Mkm decreased their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $300.19.

Tesla Stock Up 3.5%

Shares of TSLA stock opened at $321.67 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm’s 50-day moving average is $324.95 and its 200-day moving average is $318.49. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 176.74, a PEG ratio of 9.26 and a beta of 2.39. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares of the company’s stock, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 over the last three months. 20.70% of the stock is owned by corporate insiders.

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.