BancFirst Trust & Investment Management Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

BancFirst Trust & Investment Management purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 893 shares of the electric vehicle producer’s stock, valued at approximately $233,000.

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

Tesla Stock Down 3.5 %

TSLA opened at $249.02 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market capitalization of $795.53 billion, a PE ratio of 63.53, a P/E/G ratio of 7.08 and a beta of 2.29. The stock’s fifty day moving average is $222.99 and its 200-day moving average is $200.58. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share 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 for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TSLA shares. The Goldman Sachs Group dropped their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Mizuho increased their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Friday, July 5th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Citigroup reduced their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $209.90.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

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.