United Services Automobile Association Has $15.44 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

United Services Automobile Association trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,014 shares of the electric vehicle producer’s stock after selling 3,912 shares during the period. United Services Automobile Association’s holdings in Tesla were worth $15,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Vanguard Group Inc. boosted its stake in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Norges Bank acquired a new position in Tesla during the fourth quarter worth about $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 2.7 %

TSLA opened at $216.35 on Monday. The company has a market cap of $691.16 billion, a P/E ratio of 53.76, a price-to-earnings-growth ratio of 5.57 and a beta of 2.29. The company has a fifty day moving average price of $224.47 and a two-hundred day moving average price of $193.59. 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, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. Analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on TSLA shares. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Thursday. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus assumed coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $204.21.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on 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 owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.10% of the stock is owned by insiders.

Tesla 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.