Crews Bank & Trust Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Crews Bank & Trust grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 42.9% during the 1st quarter, HoldingsChannel reports. The fund owned 323 shares of the electric vehicle producer’s stock after acquiring an additional 97 shares during the quarter. Crews Bank & Trust’s holdings in Tesla were worth $84,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% in the first 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 increased its stake 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. Newton One Investments LLC increased its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the period. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the period. Finally, Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $322.16 on Monday. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a PEG ratio of 12.05 and a beta of 2.47. The firm’s 50-day moving average is $306.22 and its 200 day moving average is $331.70. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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 firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Bank of America decreased their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $293.67.

Insider Buying and Selling

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

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.