First American Bank Purchases 480 Shares of Tesla, Inc. (NASDAQ:TSLA)

First American Bank grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,068 shares of the electric vehicle producer’s stock after purchasing an additional 480 shares during the quarter. First American Bank’s holdings in Tesla were worth $803,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bank & Trust Co purchased a new position in Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $269.19 on Monday. The company has a market capitalization of $864.12 billion, a PE ratio of 73.75, a PEG ratio of 7.59 and a beta of 2.29. The business has a fifty day moving average price of $230.53 and a 200-day moving average price of $207.92. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and upped their target price for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Truist Financial lifted their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday. Bank of America increased their target price on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday. Finally, New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $219.00.

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.