Stock Yards Bank & Trust Co. Buys 573 Shares of Tesla, Inc. $TSLA

Stock Yards Bank & Trust Co. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,782 shares of the electric vehicle producer’s stock after purchasing an additional 573 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Tesla were worth $3,107,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Piper Sandler upped their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Mizuho upped their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. Finally, CICC Research upped their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $343.43.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% 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, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last ninety days. 19.90% of the stock is owned by company insiders.

Tesla Stock Performance

Tesla stock opened at $429.83 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company’s 50-day moving average is $364.02 and its 200 day moving average is $321.99.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.