Enterprise Bank & Trust Co Sells 119 Shares of Tesla, Inc. $TSLA

Enterprise Bank & Trust Co trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 787 shares of the electric vehicle producer’s stock after selling 119 shares during the period. Enterprise Bank & Trust Co’s holdings in Tesla were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSLA. Acorn Wealth Advisors LLC increased its holdings in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd increased its holdings in Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after acquiring an additional 36 shares during the last quarter. Capital Management Associates Inc increased its holdings in Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after acquiring an additional 38 shares during the last quarter. Graney & King LLC increased its holdings in Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock worth $63,000 after acquiring an additional 38 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. increased its holdings in Tesla by 3.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock worth $278,000 after acquiring an additional 39 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TSLA. Morgan Stanley reissued an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Piper Sandler restated an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Finally, Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $303.00.

Tesla Stock Up 7.4%

Shares of NASDAQ TSLA opened at $395.94 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06. The business has a 50-day moving average of $328.89 and a 200-day moving average of $303.57.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s 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 completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock valued at $51,999,662 over the last quarter. 20.70% of the stock is owned by corporate insiders.

About Tesla

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.