Simmons Bank Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Simmons Bank increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,864 shares of the electric vehicle producer’s stock after purchasing an additional 415 shares during the period. Simmons Bank’s holdings in Tesla were worth $3,366,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Tyler Stone Wealth Management boosted its stake in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after acquiring an additional 4,929 shares during the period. Savvy Advisors Inc. lifted its holdings in Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after buying an additional 206,248 shares in the last quarter. Finally, Scott & Selber Inc. raised its position in shares of Tesla by 80.3% during the third quarter. Scott & Selber Inc. now owns 12,659 shares of the electric vehicle producer’s stock valued at $3,312,000 after buying an additional 5,639 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 6.1 %

TSLA stock opened at $328.49 on Wednesday. The firm’s fifty day simple moving average is $246.26 and its 200-day simple moving average is $218.16. The company has a market capitalization of $1.05 trillion, a P/E ratio of 90.00, a price-to-earnings-growth ratio of 11.37 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Bank of America lifted their price target on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their price target on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $225.06.

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.