Whittier Trust Co. Reduces Stake in Tesla, Inc.

Whittier Trust Co. has reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the third quarter, as reported in its latest filing with the Securities and Exchange Commission. The company now holds 33,644 shares after selling 936 shares this quarter. At the end of the quarter, Whittier Trust Co.'s total holdings in Tesla were valued at approximately $8,802,000.

Additionally, other institutional investors and hedge funds have also adjusted their positions in Tesla. For instance, Von Berge Wealth Management Group LLC raised its investment in Tesla by 3.3% during the first quarter, acquiring an additional 193 shares to own a total of 6,092 shares worth roughly $1,071,000. Similarly, Gleason Group Inc. purchased new shares of Tesla valued at about $438,000 in the first quarter. Prentice Wealth Management LLC increased its holdings by 11.1%, now owning 1,934 shares after adding 194 shares, which amounts to $340,000. First Bancorp Inc ME and Arkfeld Wealth Strategies L.L.C. also made moves to obtain new stakes or increase existing ones in the first quarter, showing a continued interest in Tesla. Institutional investors collectively own 66.20% of Tesla's stock.

Analyst Opinions on Tesla

Several analysts have shared their perspectives regarding Tesla shares. Citigroup has lowered its price target for Tesla from $274.00 to $258.00, issuing a “neutral” rating. Barclays revised its target from $225.00 down to $220.00 along with an “equal weight” rating. On the other hand, Morgan Stanley maintained an “overweight” rating with a price goal of $310.00. HSBC issued a “reduce” rating with a target price of $124.00, while Truist Financial raised its target price from $215.00 to $236.00, giving a “hold” rating. The stock analysis reveals a blend of outlooks: nine analysts have a sell rating, seventeen have a hold rating, and thirteen have a buy rating, with an average rating on MarketBeat.com indicating a “Hold” at a price target of $211.63.

Recent Insider Trading Activity

In other news regarding Tesla, Senior Vice President Xiaotong Zhu sold 297 shares on September 6 at an average price of $221.77, totaling $65,865.69. After this sale, Zhu retains 67,491 shares valued at about $14,967,479.07, which represented a slight decrease in ownership. Similarly, Director Robyn M. Denholm sold 66,364 shares for $14,597,425.44 on July 25, now owning 85,000 shares valued at approximately $18,696,600. In total, insiders sold 74,661 shares in the last quarter, amounting to $16,663,291 in sales. Company insiders collectively hold 20.70% of the company’s shares.

Tesla's Performance Metrics

Tesla's stock opened at $218.85 recently and the company has a market capitalization of $699.15 billion. Its price-to-earnings (P/E) ratio stands at 61.47, with a price-to-earnings-growth (PEG) ratio of 6.31 and a beta of 2.29. Tesla shows a 50-day moving average of $228.09 and a 200-day moving average of $205.99. Over the past year, the stock has seen a low of $138.80 and a high of $271.00, indicating substantial volatility. Additionally, Tesla has maintained a debt-to-equity ratio of 0.08, with current and quick ratios of 1.91 and 1.40 respectively.

The company reported its quarterly earnings on July 23, revealing earnings per share (EPS) of $0.52, which fell short of analysts' estimates of $0.62. Revenue for the quarter reached $25.50 billion, exceeding the expected $24.38 billion. Tesla's net margin stands at 13.00%, with a return on equity of 10.41%. Sales increased by 2.3% year-over-year, down from the EPS of $0.78 from the same period the previous year. Analysts forecast Tesla's EPS for the current year to be 1.75.

About Tesla, Inc.

Tesla, Inc. is a company that designs, manufactures, leases, and sells electric vehicles as well as energy generation and storage systems. Operating in the US, China, and other international markets, Tesla is structured in two segments: Automotive and Energy Generation and Storage. The Automotive segment produces electric vehicles, sells automotive regulatory credits, and provides post-sale vehicle services, including used vehicle merchandise, body shop and parts services, supercharging, retail merchandise, and vehicle insurance services.

Tesla, Investment, Institutional