TIAA Trust National Association Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

TIAA Trust National Association raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,704 shares of the electric vehicle producer’s stock after buying an additional 2,639 shares during the period. TIAA Trust National Association’s holdings in Tesla were worth $24,803,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Eagle Capital Management LLC purchased a new stake in shares of Tesla in the 4th quarter worth $331,000. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Tesla in the 4th quarter worth $346,000. Finally, Highview Capital Management LLC DE bought a new position in Tesla in the 4th quarter worth $2,367,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA opened at $302.63 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $976.12 billion, a PE ratio of 174.93, a PEG ratio of 10.63 and a beta of 2.33. The firm’s 50-day moving average price is $322.22 and its 200 day moving average price is $311.03. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,119 shares of company stock worth $246,186,549 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. The Goldman Sachs Group dropped their target price on shares of Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, July 11th. Cantor Fitzgerald dropped their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Canaccord Genuity Group upped their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $303.31.

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.