Whittier Trust Co. of Nevada Inc. Has $19.22 Million Stock Position in Tesla, Inc. $TSLA

Whittier Trust Co. of Nevada Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 113.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,518 shares of the electric vehicle producer’s stock after purchasing an additional 32,159 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Tesla were worth $19,223,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new stake in shares of Tesla during the first quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after buying an additional 6,435,598 shares during the last quarter. Amundi grew its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’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. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Mizuho boosted their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. UBS Group set a $247.00 price objective on shares of Tesla in a research note on Monday, October 6th. Finally, Melius Research set a $520.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $363.54.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $447.43 on Tuesday. The firm’s 50-day moving average price is $389.71 and its 200-day moving average price is $335.51. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 258.63, a P/E/G ratio of 15.79 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.