Bank of Jackson Hole Trust Lowers Stock Holdings in Tesla, Inc. $TSLA

Bank of Jackson Hole Trust decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,472 shares of the electric vehicle producer’s stock after selling 212 shares during the period. Bank of Jackson Hole Trust’s holdings in Tesla were worth $785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted 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 valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. boosted 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 valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the period. Amundi boosted 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 valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 1.8%

TSLA stock opened at $460.55 on Wednesday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The business’s 50 day moving average price is $403.03 and its two-hundred day moving average price is $343.93. 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 $1.53 trillion, a price-to-earnings ratio of 307.03, a price-to-earnings-growth ratio of 16.51 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. 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 return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TSLA shares. Benchmark restated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Melius Research set a $520.00 price target on Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Truist Financial boosted their price target on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. BNP Paribas Exane started coverage on Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $500.00 price target on shares of Tesla in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $381.00.

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.