Hancock Whitney Corp Sells 1,736 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hancock Whitney Corp lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,830 shares of the electric vehicle producer’s stock after selling 1,736 shares during the quarter. Hancock Whitney Corp’s holdings in Tesla were worth $9,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Atalanta Sosnoff Capital LLC lifted its position in shares of Tesla by 3.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after buying an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after buying an additional 1,943 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Tesla during the 1st quarter worth approximately $1,941,000. Future Financial Wealth Managment LLC bought a new position in shares of Tesla during the 1st quarter worth approximately $79,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Tesla by 0.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock worth $351,166,000 after purchasing an additional 6,034 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Tesla in a report on Monday, September 16th. HSBC lifted their price target on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, September 5th. Finally, UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

NASDAQ TSLA opened at $238.25 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. 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 company has a market capitalization of $759.83 billion, a P/E ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. The company has a fifty day moving average of $221.30 and a 200-day moving average of $195.84.

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

Insiders Place Their Bets

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

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.