Riverview Trust Co Purchases 1,443 Shares of Tesla, Inc. (NASDAQ:TSLA)

Riverview Trust Co lifted its position in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 358.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,846 shares of the electric vehicle producer’s stock after acquiring an additional 1,443 shares during the quarter. Riverview Trust Co’s holdings in Tesla were worth $490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Horan Securities Inc. raised its holdings in Tesla by 164.3% in the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. TFO TDC LLC bought a new position in Tesla in the second quarter worth about $27,000. BCR Wealth Strategies LLC raised its holdings in Tesla by 916.7% in the second quarter. BCR Wealth Strategies LLC now owns 61 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 55 shares in the last quarter. Clearview Wealth Advisors LLC grew its stake in shares of Tesla by 48.8% during the second quarter. Clearview Wealth Advisors LLC now owns 64 shares of the electric vehicle producer’s stock worth $43,000 after acquiring an additional 21 shares during the last quarter. Finally, Global Trust Asset Management LLC grew its stake in shares of Tesla by 142.9% during the second quarter. Global Trust Asset Management LLC now owns 68 shares of the electric vehicle producer’s stock worth $46,000 after acquiring an additional 40 shares during the last quarter. 43.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft dropped their price target on Tesla from $270.00 to $250.00 in a research note on Tuesday, January 3rd. Roth Capital upped their target price on Tesla from $83.33 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, October 20th. Royal Bank of Canada dropped their target price on Tesla from $225.00 to $186.00 in a research report on Tuesday, January 3rd. TheStreet lowered Tesla from a “b-” rating to a “c+” rating in a research report on Tuesday, November 1st. Finally, Canaccord Genuity Group dropped their target price on Tesla from $304.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, December 22nd. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $225.95.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Zachary Kirkhorn sold 3,751 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $222.50, for a total value of $834,597.50. Following the sale, the chief financial officer now owns 185,276 shares of the company’s stock, valued at approximately $41,223,910. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the sale, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $7,550,432.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,751 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $222.50, for a total value of $834,597.50. Following the sale, the chief financial officer now directly owns 185,276 shares in the company, valued at approximately $41,223,910. The disclosure for this sale can be found here. Insiders have sold 24,172,833 shares of company stock valued at $4,492,567,309 in the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $122.40 on Monday. The business has a 50-day moving average of $156.91 and a 200 day moving average of $225.40. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $384.29. The stock has a market capitalization of $386.51 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 0.95 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04.

Tesla (NASDAQ:TSLA – Get Rating) last announced its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $21.45 billion during the quarter, compared to analysts’ expectations of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. Tesla’s revenue for the quarter was up 55.9% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 3.6 earnings per share for the current year.

About Tesla

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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.