Atlantic Union Bankshares Corp Sells 2,265 Shares of Tesla, Inc. (NASDAQ:TSLA)

Atlantic Union Bankshares Corp lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,261 shares of the electric vehicle producer’s stock after selling 2,265 shares during the period. Atlantic Union Bankshares Corp’s holdings in Tesla were worth $4,548,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Amundi boosted its stake in shares of Tesla by 1.2% during the 4th quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock valued at $5,117,345,000 after purchasing an additional 159,508 shares in the last quarter. Permanent Capital Management LP bought a new stake in shares of Tesla during the 4th quarter valued at about $261,000. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Tesla by 13.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 20,801 shares of the electric vehicle producer’s stock valued at $8,400,000 after purchasing an additional 2,427 shares in the last quarter. Marble Harbor Investment Counsel LLC bought a new stake in shares of Tesla during the 4th quarter valued at about $220,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Tesla during the 4th quarter valued at about $55,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock valued at $153,659,530 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Evercore ISI lifted their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Robert W. Baird lowered their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, UBS Group reissued a “neutral” rating on shares of Tesla in a research report on Tuesday. Nine analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $327.37.

Tesla Price Performance

TSLA stock opened at $262.67 on Friday. The company has a market capitalization of $844.88 billion, a PE ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company’s fifty day moving average price is $367.78 and its 200-day moving average price is $318.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.