Simmons Bank Sells 482 Shares of Tesla, Inc. $TSLA

Simmons Bank trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 13,056 shares of the electric vehicle producer’s stock after selling 482 shares during the quarter. Simmons Bank’s holdings in Tesla were worth $4,147,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the 1st quarter worth $27,000. Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Centennial Bank AR raised its holdings in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Tesla during the 2nd quarter worth $29,000. Finally, Evergreen Private Wealth LLC raised its holdings in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Trading Down 5.1%

NASDAQ TSLA opened at $444.26 on Wednesday. The business’s 50-day moving average price is $414.80 and its two-hundred day moving average price is $351.91. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The firm has a market capitalization of $1.48 trillion, a PE ratio of 296.17, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus set a $483.00 price target on Tesla and gave the stock a “buy” rating in a report on Wednesday, October 8th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Canaccord Genuity Group lowered their target price on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. TD Cowen upped their target price on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Dbs Bank upped their target price on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $391.08.

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.