Oakworth Capital Inc. Sells 53 Shares of Tesla, Inc. (NASDAQ:TSLA)

Oakworth Capital Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,796 shares of the electric vehicle producer’s stock after selling 53 shares during the quarter. Oakworth Capital Inc.’s holdings in Tesla were worth $732,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter worth about $25,000. Clean Yield Group lifted its position in Tesla by 60.0% during the 3rd 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. Abich Financial Wealth Management LLC lifted its position in 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 purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. lifted its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research report on Friday, October 11th. Argus reiterated a “buy” rating and issued a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Royal Bank of Canada increased their price target on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays cut their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $211.63.

Tesla Stock Down 1.0 %

TSLA stock opened at $216.74 on Tuesday. The stock has a market capitalization of $691.23 billion, a P/E ratio of 55.52, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 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 $271.00. The firm has a 50-day moving average price of $228.09 and a 200-day moving average price of $205.99.

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

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. 25.10% of the stock is owned by company insiders.

Tesla 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.