Ballentine Partners LLC Sells 4,170 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ballentine Partners LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 12.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,118 shares of the electric vehicle producer’s stock after selling 4,170 shares during the quarter. Ballentine Partners LLC’s holdings in Tesla were worth $5,960,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TSLA. Norges Bank bought a new position in shares of Tesla during the 4th quarter worth approximately $7,844,757,000. Strategic Financial Concepts LLC boosted its stake in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on TSLA shares. Stifel Nicolaus began coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price for the company. Canaccord Genuity Group boosted their price objective on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Guggenheim reiterated a “sell” rating and issued a $134.00 target price on shares of Tesla in a report on Tuesday, July 23rd. Citigroup decreased their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research note on Monday, August 19th. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $204.21.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

TSLA traded down $19.44 during trading hours on Friday, hitting $210.73. The stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company’s fifty day simple moving average is $224.47 and its 200 day simple moving average is $193.60. The stock has a market cap of $673.21 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Tesla Company 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.