Cape ANN Savings Bank Sells 335 Shares of Tesla, Inc. $TSLA

Cape ANN Savings Bank lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 19.2% during the first quarter, Holdings Channel.com reports. The firm owned 1,411 shares of the electric vehicle producer’s stock after selling 335 shares during the period. Cape ANN Savings Bank’s holdings in Tesla were worth $366,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TSLA. Means Investment CO. Inc. increased its position in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after buying an additional 670 shares during the period. Zuckerman Investment Group LLC increased its holdings in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new stake in shares of Tesla in the first quarter worth $594,000. Finally, IFM Investors Pty Ltd boosted its position in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after purchasing an additional 46,087 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Tesla stock opened at $349.60 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $322.87 and a 200-day moving average of $303.14. The firm has a market cap of $1.13 trillion, a P/E ratio of 202.08, a P/E/G ratio of 12.23 and a beta of 2.33. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TSLA shares. HSBC reiterated a “reduce” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research note on Sunday, August 17th. Finally, Mizuho decreased their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.31.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company’s stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,564 shares of company stock valued at $9,757,390. Company insiders own 20.70% of the company’s stock.

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.