Hills Bank & Trust Co Buys Shares of 890 Tesla, Inc. $TSLA

Hills Bank & Trust Co bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 890 shares of the electric vehicle producer’s stock, valued at approximately $283,000.

A number of other institutional investors also recently modified their holdings of the business. First Merchants Corp lifted its stake in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after buying an additional 31 shares in the last quarter. Alaska Wealth Advisors increased its holdings in shares of Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after buying an additional 32 shares during the last quarter. KWB Wealth increased its holdings in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its holdings in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. grew its holdings in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 directly 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 is available in the SEC filing. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Tesla Trading Up 3.7%

Shares of TSLA opened at $456.56 on Friday. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $410.52 and its 200-day moving average price is $348.12. The firm has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Melius Research set a $520.00 price target on shares of Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. Truist Financial lifted their target price on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $390.27.

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.