Itau Unibanco Holding S.A. Invests $5.53 Million in Tesla, Inc. (NASDAQ:TSLA)

Itau Unibanco Holding S.A. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,957 shares of the electric vehicle producer’s stock, valued at approximately $5,532,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter worth $26,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the 4th quarter worth $37,000. Guardian Wealth Management Inc. acquired a new position in Tesla in the fourth quarter valued at $47,000. Finally, Kessler Investment Group LLC raised its holdings in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 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 news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated 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 completion of 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. 25.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TSLA. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Argus reiterated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Finally, The Goldman Sachs Group cut their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research 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 issued a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $209.60.

Tesla Stock Down 2.3 %

TSLA stock opened at $238.25 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s 50 day simple moving average is $221.30 and its 200-day simple moving average is $195.94. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The firm has a market capitalization of $759.83 billion, a PE ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 analysts’ expectations of $24.38 billion. During the same period in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.