First American Bank Sells 35 Shares of Tesla, Inc. (NASDAQ:TSLA)

First American Bank lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,033 shares of the electric vehicle producer’s stock after selling 35 shares during the quarter. First American Bank’s holdings in Tesla were worth $1,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla during the 4th quarter worth about $46,000. PayPay Securities Corp increased its holdings in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Tesla during the 3rd quarter worth about $35,000. Finally, Finley Financial LLC acquired a new stake in shares of Tesla during the 4th quarter valued at about $64,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 4.0 %

TSLA opened at $293.33 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $943.49 billion, a price-to-earnings ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The firm has a 50 day simple moving average of $385.35 and a 200 day simple moving average of $316.70. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho reiterated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Jefferies Financial Group lifted their target price on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. Evercore ISI lifted their target price 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. Finally, Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Ten equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $318.77.

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.