Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by CNB Bank

CNB Bank lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,042 shares of the electric vehicle producer’s stock after purchasing an additional 101 shares during the period. Tesla comprises about 1.1% of CNB Bank’s portfolio, making the stock its 19th biggest holding. CNB Bank’s holdings in Tesla were worth $2,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new position in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group grew its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. increased its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $220.70 on Friday. The business has a 50-day simple moving average of $227.67 and a 200-day simple moving average of $205.39. The company has a market cap of $703.86 billion, a PE ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm earned $0.78 EPS. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of research reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Friday, October 11th. Finally, Royal Bank of Canada lifted their target price on shares of Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $210.72.

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.