Americana Partners LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Americana Partners LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,098 shares of the electric vehicle producer’s stock after selling 168 shares during the quarter. Americana Partners LLC’s holdings in Tesla were worth $613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Norges Bank acquired a new position in Tesla in the 4th quarter valued at about $7,844,757,000. Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after buying an additional 458,804 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on 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 approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $214.11 on Friday. The company has a market capitalization of $684.00 billion, a price-to-earnings ratio of 54.62, a price-to-earnings-growth ratio of 5.55 and a beta of 2.31. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $222.00 and a 200 day moving average price of $192.82.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the business earned $0.78 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Glj Research raised their target price on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Truist Financial reissued a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Mizuho upped their target price on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. William Blair initiated coverage on shares of Tesla in a research report on Thursday. They set an “outperform” rating for the company. Finally, KGI Securities restated a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $204.21.

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.