Legacy Private Trust Co. Boosts Stock Position in Tesla, Inc. $TSLA

Legacy Private Trust Co. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.9% in the third quarter, Holdings Channel reports. The institutional investor owned 15,374 shares of the electric vehicle producer’s stock after buying an additional 3,160 shares during the quarter. Legacy Private Trust Co.’s holdings in Tesla were worth $6,837,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TSLA. Chapman Financial Group LLC bought a new position in Tesla in the 2nd quarter worth about $26,000. Chelsea Counsel Co. raised its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in Tesla in the second quarter worth about $29,000. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the second quarter valued at approximately $30,000. Finally, ESL Trust Services LLC grew its holdings in shares of Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Morgan Stanley set a $425.00 price objective on Tesla and gave the company an “equal weight” rating in a research report on Sunday, December 7th. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. China Renaissance increased their price objective on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Roth Capital set a $505.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $500.00 price target on shares of Tesla in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $402.25.

Tesla Trading Up 3.4%

Tesla stock opened at $483.37 on Friday. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $495.28. The company has a market cap of $1.61 trillion, a P/E ratio of 322.25, a P/E/G ratio of 11.68 and a beta of 1.87. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $438.62 and a two-hundred day simple moving average of $379.59.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 19.90% of the company’s stock.

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.