Midwest Trust Co Makes New Investment in Tesla, Inc. $TSLA

Midwest Trust Co purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the second quarter, Holdings Channel reports. The institutional investor purchased 193,991 shares of the electric vehicle producer’s stock, valued at approximately $61,623,000. Tesla comprises about 0.9% of Midwest Trust Co’s portfolio, making the stock its 28th largest position.

Other hedge funds also recently made changes to their positions in the company. First Merchants Corp grew its position in Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the last quarter. Alaska Wealth Advisors boosted its stake in shares of Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after acquiring an additional 32 shares in the last quarter. KWB Wealth grew its holdings in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. lifted its holdings in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last three months. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Dbs Bank upgraded Tesla to a “hold” rating in a report on Wednesday. Evercore ISI boosted their price target on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. UBS Group reaffirmed a “sell” rating on shares of Tesla in a research note on Friday. Melius Research set a $520.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Roth Capital set a $505.00 target price on Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $391.08.

Tesla Stock Down 3.7%

TSLA stock opened at $429.52 on Friday. The company has a 50 day moving average of $420.97 and a two-hundred day moving average of $355.54. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the business posted $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.