Mutual of America Capital Management LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Mutual of America Capital Management LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 350,146 shares of the electric vehicle producer’s stock after selling 13,361 shares during the period. Tesla comprises approximately 0.8% of Mutual of America Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Mutual of America Capital Management LLC’s holdings in Tesla were worth $69,287,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Integris Wealth Management LLC raised its holdings in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Echo Wealth Management LLC grew its stake in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co grew its stake in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC grew its stake in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares in the last quarter. Finally, Cypress Capital Group grew its stake in Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TSLA shares. Truist Financial restated a “hold” rating and set a $215.00 price objective on shares of Tesla in a research note on Wednesday, August 14th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research report on Monday. KGI Securities reiterated a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Finally, Royal Bank of Canada decreased their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Up 0.5 %

TSLA opened at $227.87 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock’s fifty day moving average is $222.16 and its 200-day moving average is $194.93. The company has a market capitalization of $726.72 billion, a PE ratio of 58.13, a P/E/G ratio of 6.08 and a beta of 2.29.

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

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.