Tesla, Inc. $TSLA Stock Holdings Trimmed by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,108,228 shares of the electric vehicle producer’s stock after selling 153,966 shares during the quarter. Tesla comprises 1.1% of Ensign Peak Advisors Inc’s portfolio, making the stock its 13th largest position. Ensign Peak Advisors Inc’s holdings in Tesla were worth $669,700,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Empirical Finance LLC lifted its position in shares of Tesla by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 82,363 shares of the electric vehicle producer’s stock worth $26,163,000 after buying an additional 576 shares during the last quarter. Nicholas Wealth LLC. boosted its stake in Tesla by 1.9% in the second quarter. Nicholas Wealth LLC. now owns 15,787 shares of the electric vehicle producer’s stock valued at $5,015,000 after acquiring an additional 300 shares during the period. ARS Investment Partners LLC grew its holdings in shares of Tesla by 67.9% during the second quarter. ARS Investment Partners LLC now owns 7,377 shares of the electric vehicle producer’s stock valued at $2,343,000 after purchasing an additional 2,983 shares during the last quarter. Intrepid Financial Planning Group LLC lifted its holdings in shares of Tesla by 3.2% in the 2nd quarter. Intrepid Financial Planning Group LLC now owns 1,118 shares of the electric vehicle producer’s stock worth $355,000 after purchasing an additional 35 shares during the last quarter. Finally, Alteri Wealth LLC boosted its position in Tesla by 5.7% during the 2nd quarter. Alteri Wealth LLC now owns 7,925 shares of the electric vehicle producer’s stock valued at $2,517,000 after purchasing an additional 427 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. BNP Paribas Exane began coverage on Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price on the stock. Dbs Bank raised Tesla to a “hold” rating in a report on Wednesday, November 5th. Piper Sandler raised their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. New Street Research boosted their price target on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $394.31.

Tesla Stock Performance

Shares of TSLA opened at $403.82 on Thursday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market capitalization of $1.34 trillion, a PE ratio of 269.21, a PEG ratio of 16.84 and a beta of 2.06. The company’s 50 day moving average price is $433.12 and its 200 day moving average price is $363.32.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. Tesla’s revenue was up 11.6% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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.