Field & Main Bank Sells 285 Shares of Tesla, Inc. $TSLA

Field & Main Bank lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,012 shares of the electric vehicle producer’s stock after selling 285 shares during the quarter. Field & Main Bank’s holdings in Tesla were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter worth about $27,000. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. Centennial Bank AR boosted its holdings in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC raised its holdings in shares of Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after buying an additional 90 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’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 value of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TD Cowen increased their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Truist Financial boosted their price target on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Melius Research set a $520.00 price target on Tesla and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $388.51.

Tesla Trading Up 0.2%

Shares of NASDAQ TSLA opened at $461.51 on Thursday. The company’s 50 day simple moving average is $405.79 and its 200 day simple moving average is $345.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 307.67, a P/E/G ratio of 16.81 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict 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.