CENTRAL TRUST Co Sells 3,246 Shares of Tesla, Inc. (NASDAQ:TSLA)

CENTRAL TRUST Co reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,000 shares of the electric vehicle producer’s stock after selling 3,246 shares during the quarter. CENTRAL TRUST Co’s holdings in Tesla were worth $3,401,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Integris Wealth Management LLC boosted its position in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC grew its stake in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the period. Finally, Bellevue Asset Management LLC raised its position in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 transaction, the senior vice president now directly owns 67,491 shares in the company, 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 own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TSLA shares. The Goldman Sachs Group boosted their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Piper Sandler boosted their price target on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Canaccord Genuity Group increased their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $218.18.

Tesla Stock Up 21.9 %

TSLA stock opened at $260.48 on Friday. The company has a market cap of $832.14 billion, a price-to-earnings ratio of 73.17, a P/E/G ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business’s 50-day moving average is $228.54 and its two-hundred day moving average is $206.41. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Tesla Company 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.