Tesla, Inc. (NASDAQ:TSLA) is Xponance Inc.’s 10th Largest Position

Xponance Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 670,755 shares of the electric vehicle producer’s stock after acquiring an additional 4,982 shares during the quarter. Tesla accounts for about 1.4% of Xponance Inc.’s portfolio, making the stock its 10th largest position. Xponance Inc.’s holdings in Tesla were worth $132,729,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Integris Wealth Management LLC grew its position in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the last quarter. Echo Wealth Management LLC grew its holdings in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its position in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the period. Bellevue Asset Management LLC boosted its position in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after acquiring an additional 45 shares during the period. Finally, Cypress Capital Group grew its stake in shares of Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after acquiring an additional 47 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $238.25 on Monday. 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 firm’s 50 day moving average is $221.30 and its 200-day moving average is $196.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The firm has a market capitalization of $759.83 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. KGI Securities reiterated a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. The Goldman Sachs Group lowered their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a report on Friday, July 5th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $209.60.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available through this link. In related 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 in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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. 25.10% of the stock is currently owned by corporate insiders.

About Tesla

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.