Tesla, Inc. $TSLA Shares Acquired by RB Capital Management LLC

RB Capital Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,739 shares of the electric vehicle producer’s stock after purchasing an additional 91 shares during the period. RB Capital Management LLC’s holdings in Tesla were worth $710,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the fourth quarter worth $37,000. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank increased its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Tesla in the fourth quarter worth $39,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,564 shares of company stock valued at $9,757,390 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.5%

Tesla stock opened at $351.67 on Wednesday. The company has a 50-day simple moving average of $322.32 and a 200-day simple moving average of $302.82. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 203.28, a P/E/G ratio of 12.05 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a one year low of $202.59 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. UBS Group set a $290.00 price target on shares of Tesla in a research note on Monday, June 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $303.31.

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.