S Bank Fund Management Ltd Cuts Stake in Tesla, Inc. $TSLA

by · The Markets Daily

S Bank Fund Management Ltd lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 17.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,209 shares of the electric vehicle producer’s stock after selling 9,545 shares during the period. Tesla accounts for about 2.1% of S Bank Fund Management Ltd’s investment portfolio, making the stock its 9th biggest holding. S Bank Fund Management Ltd’s holdings in Tesla were worth $14,043,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at approximately $27,000. Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Finally, Evergreen Private Wealth LLC raised its holdings in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% 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. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $428.75 on Friday. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The business’s fifty day moving average is $385.34 and its two-hundred day moving average is $332.07. 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 (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. UBS Group set a $247.00 target price on Tesla in a report on Monday, October 6th. Piper Sandler boosted their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Barclays reissued a “negative” rating and set a $350.00 target price (up previously from $275.00) on shares of Tesla in a report on Thursday. Wedbush boosted their target price on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Two equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $363.54.

Get Our Latest Stock Report on TSLA

Tesla 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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