Elo Mutual Pension Insurance Co Sells 12,611 Shares of Tesla, Inc. (NASDAQ:TSLA)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 248,806 shares of the electric vehicle producer's stock after selling 12,611 shares during the period. Tesla makes up about 1.2% of Elo Mutual Pension Insurance Co's investment portfolio, making the stock its 12th largest holding. Elo Mutual Pension Insurance Co's holdings in Tesla were worth $49,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kooman & Associates bought a new stake in shares of Tesla in the second quarter worth approximately $230,000. Waterloo Capital L.P. grew its position in Tesla by 25.0% in the 2nd quarter. Waterloo Capital L.P. now owns 9,700 shares of the electric vehicle producer's stock worth $1,919,000 after purchasing an additional 1,942 shares during the period. Shariaportfolio Inc. raised its stake in Tesla by 11.9% during the 2nd quarter. Shariaportfolio Inc. now owns 106,381 shares of the electric vehicle producer's stock valued at $21,051,000 after buying an additional 11,318 shares during the last quarter. Marsico Capital Management LLC bought a new position in shares of Tesla during the 2nd quarter valued at $66,704,000. Finally, Zega Financial LLC boosted its stake in shares of Tesla by 12.9% in the 2nd quarter. Zega Financial LLC now owns 6,873 shares of the electric vehicle producer's stock worth $1,360,000 after buying an additional 785 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 0.3 %

NASDAQ TSLA traded down $0.67 during trading hours on Wednesday, hitting $227.20. 77,752,951 shares of the company were exchanged, compared to its average volume of 96,306,102. The stock has a market cap of $724.59 billion, a PE ratio of 58.43, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93. The stock has a 50-day moving average price of $222.16 and a 200 day moving average price of $194.93. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results 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 return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. HSBC increased their target price on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Wedbush reiterated an "outperform" rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Cantor Fitzgerald restated a "neutral" rating and set a $245.00 target price on shares of Tesla in a research report on Monday. Morgan Stanley reiterated an "overweight" rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. Finally, Citigroup reduced their price objective on Tesla from $274.00 to $258.00 and set a "neutral" rating for the company in a research note 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $209.60.

Insider Buying and Selling

In other Tesla 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business'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 value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company's stock in a transaction 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 owns 67,491 shares of the company's stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

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.