Elo Mutual Pension Insurance Co Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Elo Mutual Pension Insurance Co cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,806 shares of the electric vehicle producer’s stock after selling 12,611 shares during the period. Tesla comprises about 1.2% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 12th largest position. Elo Mutual Pension Insurance Co’s holdings in Tesla were worth $49,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the 2nd quarter valued at about $26,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the 4th quarter worth approximately $37,000. Kessler Investment Group LLC boosted its stake in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares in the last quarter. Finally, Aspect Partners LLC increased its holdings in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $227.87 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $222.16 and a 200 day moving average price of $194.93. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. The stock has a market cap of $726.72 billion, a P/E ratio of 58.13, a PEG ratio of 6.08 and a beta of 2.29.

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

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. Argus reiterated a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and increased their price target for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Truist Financial reissued a “hold” rating and set a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. William Blair started coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $209.60.

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.