Hickory Point Bank & Trust Raises Holdings in Tesla, Inc. $TSLA

Hickory Point Bank & Trust grew its position in Tesla, Inc. (NASDAQ:TSLA) by 3.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,343 shares of the electric vehicle producer’s stock after purchasing an additional 50 shares during the quarter. Hickory Point Bank & Trust’s holdings in Tesla were worth $427,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Acorn Wealth Advisors LLC raised its position in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd raised its position in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after acquiring an additional 36 shares in the last quarter. Capital Management Associates Inc raised its position in shares of Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after acquiring an additional 38 shares in the last quarter. Graney & King LLC raised its position in shares of Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock worth $63,000 after acquiring an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. raised its position in shares of Tesla by 3.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock worth $278,000 after acquiring an additional 39 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. Mizuho reduced their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Benchmark reaffirmed a “buy” rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Finally, Canaccord Genuity Group increased their price objective on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $303.00.

Tesla Trading Up 7.4%

Tesla stock opened at $395.94 on Monday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. 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 company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. The stock has a 50-day moving average price of $328.89 and a 200 day moving average price of $303.72.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS 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 company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,606 shares of company stock worth $51,999,662 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.