Tesla, Inc. $TSLA Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,185 shares of the electric vehicle producer’s stock after selling 167 shares during the period. Tesla accounts for about 1.1% of Heartland Bank & Trust Co’s holdings, making the stock its 18th biggest position. Heartland Bank & Trust Co’s holdings in Tesla were worth $2,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank raised its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC raised its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. raised its holdings in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 1.5%

TSLA stock opened at $429.24 on Wednesday. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. 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 business has a fifty day simple moving average of $380.91 and a 200-day simple moving average of $330.17. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. TD Cowen boosted their price target on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Industrial Alliance Securities set a $300.00 price target on Tesla in a report on Monday. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. China Renaissance reiterated a “hold” rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $363.03.

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.