Berkshire Bank Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Berkshire Bank lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 73.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,004 shares of the electric vehicle producer’s stock after selling 5,620 shares during the period. Berkshire Bank’s holdings in Tesla were worth $519,000 at the end of the most recent quarter.

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

Tesla Stock Up 1.2%

Tesla stock opened at $329.13 on Tuesday. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $177.00 and a 52 week high of $488.54. The business’s 50-day moving average price is $301.53 and its 200 day moving average price is $332.77. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company 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 last year, the business earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. UBS Group cut their price objective on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Royal Bank of Canada dropped their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $293.67.

Tesla 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.