Tesla, Inc. (NASDAQ:TSLA) Shares Sold by First County Bank CT

First County Bank CT lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,874 shares of the electric vehicle producer’s stock after selling 250 shares during the period. First County Bank CT’s holdings in Tesla were worth $569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter valued at $37,000. Finally, Kessler Investment Group LLC raised its position in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 1.1 %

Shares of NASDAQ:TSLA opened at $254.22 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock’s 50-day moving average price is $221.47 and its two-hundred day moving average price is $197.95. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $812.14 billion, a price-to-earnings ratio of 64.85, a PEG ratio of 6.92 and a beta of 2.29.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TSLA shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, September 5th. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Guggenheim increased their price objective on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, HSBC boosted their target price on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. 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, Tesla has a consensus rating of “Hold” and a consensus price target of $209.90.

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.