Bangor Savings Bank Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Bangor Savings Bank grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 930 shares of the electric vehicle producer’s stock after purchasing an additional 120 shares during the period. Bangor Savings Bank’s holdings in Tesla were worth $241,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC boosted its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC purchased a new position in shares of Tesla during the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Finally, Wedbush set a $500.00 target price on Tesla in a research report on Thursday. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $294.27.

Tesla Stock Up 3.7%

Shares of NASDAQ:TSLA opened at $295.14 on Monday. The business has a 50-day moving average price of $292.17 and a 200 day moving average price of $333.51. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the business posted $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. The trade was a 33.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $24,274,300. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 815,945 shares of company stock valued at $273,059,215. 20.70% 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.