CENTRAL TRUST Co Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

CENTRAL TRUST Co trimmed its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,618 shares of the electric vehicle producer’s stock after selling 1,382 shares during the period. CENTRAL TRUST Co’s holdings in Tesla were worth $4,692,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TSLA. O Connor Financial Group LLC acquired a new position in Tesla during the third quarter worth $206,000. Wedmont Private Capital lifted its stake in Tesla by 12.5% during the third quarter. Wedmont Private Capital now owns 39,107 shares of the electric vehicle producer’s stock worth $9,418,000 after purchasing an additional 4,337 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its stake in Tesla by 15.0% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 27,102 shares of the electric vehicle producer’s stock worth $7,091,000 after purchasing an additional 3,530 shares in the last quarter. Enterprise Bank & Trust Co acquired a new position in Tesla during the third quarter worth $346,000. Finally, Perpetual Ltd acquired a new stake in shares of Tesla in the third quarter valued at $655,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. JPMorgan Chase & Co. increased their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and increased their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $322.29.

View Our Latest Stock Analysis on Tesla

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $374.32 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.20 trillion, a P/E ratio of 183.49, a PEG ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a 50-day moving average price of $407.11 and a 200 day moving average price of $302.26.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $36,761,200. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 664,776 shares of company stock worth $239,746,862 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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