Colonial Trust Advisors Trims Holdings in Tesla, Inc. $TSLA

Colonial Trust Advisors decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 805 shares of the electric vehicle producer’s stock after selling 321 shares during the period. Colonial Trust Advisors’ holdings in Tesla were worth $209,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC bought a new position in Tesla in the 4th quarter valued at $56,600,000. Means Investment CO. Inc. raised its position in shares of 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 buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. boosted its stake in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the period. IFM Investors Pty Ltd grew 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 worth $153,436,000 after buying an additional 46,087 shares in the last quarter. Finally, Keystone Global Partners LLC bought a new position in Tesla in the 1st quarter worth about $594,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a report on Sunday. Truist Financial set a $280.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $303.31.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $329.31 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.06 trillion, a PE ratio of 190.35, a PEG ratio of 11.65 and a beta of 2.33. The company’s fifty day moving average is $321.01 and its 200 day moving average is $304.26. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54.

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

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is owned by company insiders.

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.