Ensign Peak Advisors Inc Sells 346,288 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ensign Peak Advisors Inc lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,394,149 shares of the electric vehicle producer’s stock after selling 346,288 shares during the period. Tesla accounts for about 0.9% of Ensign Peak Advisors Inc’s holdings, making the stock its 16th largest holding. Ensign Peak Advisors Inc’s holdings in Tesla were worth $473,754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Bank & Trust Co bought a new position in shares of Tesla in the second quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the fourth quarter worth $37,000. Kessler Investment Group LLC lifted its holdings in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares in the last quarter. Finally, Aspect Partners LLC boosted its position in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $238.25 on Friday. The stock has a 50-day moving average price of $221.30 and a 200 day moving average price of $195.84. The stock has a market capitalization of $759.83 billion, a P/E ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (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 for 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% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Truist Financial reissued a “hold” rating and issued a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. Wells Fargo & Company restated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Barclays cut their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and set a $300.00 price target on shares of Tesla in a report on Monday, August 19th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $209.60.

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.