Legacy Private Trust Co. Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Legacy Private Trust Co. reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 5,867 shares of the electric vehicle producer’s stock after selling 117 shares during the period. Legacy Private Trust Co.’s holdings in Tesla were worth $2,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of TSLA. Geode Capital Management LLC grew its stake in shares of Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC grew its position in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 0.1 %

TSLA stock traded up $0.58 during midday trading on Wednesday, reaching $394.94. 71,782,939 shares of the company traded hands, compared to its average volume of 87,590,609. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The business has a 50 day moving average of $368.03 and a 200-day moving average of $277.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Stifel Nicolaus upped their target price on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday. Wedbush reissued an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $295.69.

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.