Private Trust Co. NA Has $2.71 Million Holdings in Tesla, Inc. $TSLA

Private Trust Co. NA boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,522 shares of the electric vehicle producer’s stock after buying an additional 1,381 shares during the period. Private Trust Co. NA’s holdings in Tesla were worth $2,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter worth about $27,000. Chelsea Counsel Co. raised its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. Finally, Centennial Bank AR raised its holdings in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. BNP Paribas Exane initiated coverage on Tesla in a report on Thursday. They issued an “underperform” rating and a $307.00 target price on the stock. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Finally, Piper Sandler upped their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $363.54.

Tesla Trading Up 2.5%

NASDAQ:TSLA opened at $439.31 on Friday. The stock’s 50 day moving average price is $387.54 and its 200 day moving average price is $333.25. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.41 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 EPS. The company’s quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

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.