Tesla, Inc. $TSLA Shares Sold by Bell Bank

Bell Bank cut its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 9.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 11,260 shares of the electric vehicle producer’s stock after selling 1,193 shares during the period. Bell Bank’s holdings in Tesla were worth $5,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Siren L.L.C. acquired a new position in Tesla in the 1st quarter valued at $2,332,000. Norges Bank acquired a new stake in Tesla during the 2nd quarter worth $11,839,824,000. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Tesla by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock worth $135,688,000 after buying an additional 22,607 shares in the last quarter. Strs Ohio acquired a new stake in shares of Tesla in the first quarter valued at about $205,495,000. Finally, AustralianSuper Pty Ltd lifted its stake in shares of Tesla by 1,823.0% in the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after buying an additional 64,772 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the sale, the director directly owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $451.67 on Tuesday. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $498.83. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.50 trillion, a price-to-earnings ratio of 301.11, a price-to-earnings-growth ratio of 7.02 and a beta of 1.83. The business has a fifty day moving average of $445.75 and a two-hundred day moving average of $392.74.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Trending Headlines about Tesla

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. Truist Financial dropped their price objective on shares of Tesla from $444.00 to $439.00 and set a “hold” rating for the company in a research note on Friday. Benchmark restated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. President Capital increased their price target on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. CICC Research lifted their price objective on Tesla from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $406.47.

View Our Latest Research Report on Tesla

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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