Private Trust Co. NA Acquires 730 Shares of Tesla, Inc. (NASDAQ:TSLA)

Private Trust Co. NA raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,044 shares of the electric vehicle producer’s stock after acquiring an additional 730 shares during the quarter. Private Trust Co. NA’s holdings in Tesla were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Diversified LLC raised its stake in shares of Tesla by 5.3% during the 3rd quarter. Diversified LLC now owns 2,539 shares of the electric vehicle producer’s stock valued at $664,000 after purchasing an additional 127 shares during the period. Canton Hathaway LLC grew its holdings in Tesla by 26.2% during the 3rd quarter. Canton Hathaway LLC now owns 4,690 shares of the electric vehicle producer’s stock valued at $1,227,000 after buying an additional 975 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Tesla during the third quarter valued at about $334,000. Brown Brothers Harriman & Co. boosted its position in shares of Tesla by 14.9% in the third quarter. Brown Brothers Harriman & Co. now owns 12,553 shares of the electric vehicle producer’s stock valued at $3,284,000 after acquiring an additional 1,632 shares during the period. Finally, Independent Advisor Alliance grew its stake in Tesla by 4.9% during the third quarter. Independent Advisor Alliance now owns 99,004 shares of the electric vehicle producer’s stock valued at $25,902,000 after acquiring an additional 4,596 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 4.0 %

NASDAQ:TSLA opened at $338.59 on Tuesday. The company has a 50-day moving average price of $266.31 and a 200-day moving average price of $227.97. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.76, a P/E/G ratio of 11.45 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. UBS Group boosted their target price on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday. Guggenheim lifted their price target on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $231.06.

Tesla Company 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.