Atlantic Union Bankshares Corp Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Atlantic Union Bankshares Corp decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,021 shares of the electric vehicle producer’s stock after selling 127 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Tesla were worth $3,409,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TSLA. Grassi Investment Management boosted its position in shares of Tesla by 6.5% during the 2nd quarter. Grassi Investment Management now owns 4,105 shares of the electric vehicle producer’s stock worth $1,075,000 after acquiring an additional 250 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Tesla by 60.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,602 shares of the electric vehicle producer’s stock worth $1,990,000 after acquiring an additional 2,865 shares in the last quarter. Selective Wealth Management Inc. acquired a new position in shares of Tesla during the 2nd quarter worth about $581,000. Compass Financial Group INC SD acquired a new position in shares of Tesla during the 2nd quarter worth about $223,000. Finally, New Hampshire Trust boosted its position in shares of Tesla by 1.8% during the 2nd quarter. New Hampshire Trust now owns 13,069 shares of the electric vehicle producer’s stock worth $3,421,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the sale, the senior vice president now owns 66,834 shares in the company, valued at $16,249,350.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the sale, the senior vice president now owns 66,834 shares in the company, valued at $16,249,350.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, July 7th. The shares were sold at an average price of $278.36, for a total value of $1,113,440.00. Following the completion of the transaction, the chief accounting officer now owns 104,504 shares in the company, valued at approximately $29,089,733.44. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock worth $14,384,135 over the last quarter. 20.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays cut Tesla from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $220.00 to $260.00 in a research report on Wednesday, June 21st. Sanford C. Bernstein reissued an “underperform” rating and issued a $150.00 target price on shares of Tesla in a research report on Thursday, July 20th. Wells Fargo & Company upped their target price on Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a research report on Monday, July 17th. Mizuho upped their target price on Tesla from $300.00 to $330.00 in a research report on Thursday, July 20th. Finally, Guggenheim reaffirmed a “sell” rating and set a $125.00 price objective on shares of Tesla in a research report on Monday. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $239.43.

Tesla Stock Performance

Tesla stock opened at $265.28 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The stock has a fifty day moving average of $255.83 and a two-hundred day moving average of $220.81. The company has a market capitalization of $842.00 billion, a price-to-earnings ratio of 75.15, a PEG ratio of 4.28 and a beta of 2.09. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $313.80.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.22. The company had revenue of $24.93 billion during the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. Tesla’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.94 EPS 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. It 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, retail merchandise, and vehicle insurance services.