Legacy Private Trust Co. Boosts Stock Position in Tesla, Inc. $TSLA

Legacy Private Trust Co. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,374 shares of the electric vehicle producer’s stock after buying an additional 3,160 shares during the period. Legacy Private Trust Co.’s holdings in Tesla were worth $6,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Tesla in the 2nd quarter valued at $11,839,824,000. Kingstone Capital Partners Texas LLC lifted its stake in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Vanguard Group Inc. boosted its position in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after buying an additional 4,502,976 shares during the period. Amundi grew its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Tesla in the first quarter worth about $469,339,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 3.4%

Shares of Tesla stock opened at $483.37 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $495.28. The company has a market cap of $1.61 trillion, a P/E ratio of 322.25, a PEG ratio of 11.68 and a beta of 1.87. The company’s fifty day simple moving average is $438.62 and its two-hundred day simple moving average is $379.59.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period last year, the company posted $0.72 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial increased their target price on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Roth Capital set a $505.00 price objective on Tesla and gave the company a “buy” rating in a research note on Thursday, October 23rd. TD Cowen lifted their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Tesla in a report on Monday. Finally, Dbs Bank raised shares of Tesla to a “hold” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $402.25.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 19.90% 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.