Tesla, Inc. $TSLA Stock Position Boosted by Crews Bank & Trust

Crews Bank & Trust boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 21.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 393 shares of the electric vehicle producer’s stock after buying an additional 70 shares during the period. Crews Bank & Trust’s holdings in Tesla were worth $125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during 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 in the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Canaccord Genuity Group raised their price objective on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Mizuho upped their price objective on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Dbs Bank upped their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $343.43.

Tesla Trading Down 1.4%

Shares of TSLA stock opened at $429.83 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. 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 business’s 50 day moving average is $364.02 and its two-hundred day moving average is $321.99. The company has a market cap of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction 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 owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. 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 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.