Chevy Chase Trust Holdings LLC Grows Stake in Tesla, Inc. $TSLA

by · The Cerbat Gem

Chevy Chase Trust Holdings LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,485,331 shares of the electric vehicle producer’s stock after purchasing an additional 11,768 shares during the period. Tesla comprises 1.4% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 12th biggest position. Chevy Chase Trust Holdings LLC’s holdings in Tesla were worth $471,830,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Means Investment CO. Inc. increased its stake in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Siren L.L.C. purchased a new stake in shares of Tesla during the first quarter worth about $2,332,000. Zuckerman Investment Group LLC increased its stake in shares of Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC purchased a new stake in shares of Tesla during the first quarter worth about $594,000. Finally, Strs Ohio purchased a new stake in Tesla during the 1st quarter valued at about $205,495,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Dbs Bank upped their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, China Renaissance reaffirmed a “hold” rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $363.54.

Check Out Our Latest Report on Tesla

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $439.31 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08. The company’s 50-day moving average is $387.54 and its two-hundred day moving average is $333.25. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) 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. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company Profile

(Free Report)

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.

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