Tesla, Inc. $TSLA Position Decreased by Cape ANN Savings Bank

Cape ANN Savings Bank reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 28.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,014 shares of the electric vehicle producer’s stock after selling 397 shares during the quarter. Cape ANN Savings Bank’s holdings in Tesla were worth $322,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the first 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 purchased a new position in shares of Tesla in the first quarter worth approximately $27,000. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Finally, Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

Tesla Stock Down 1.4%

Shares of NASDAQ:TSLA opened at $429.83 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.43 trillion, a P/E ratio of 248.46, a P/E/G ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company’s 50-day moving average price is $364.02 and its two-hundred day moving average price is $321.99.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. HSBC lifted their target price on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Dbs Bank boosted their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Finally, Bank of America increased their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $343.43.

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.