Farmers Trust Co. Purchases Shares of 1,127 Tesla, Inc. (NASDAQ:TSLA)

Farmers Trust Co. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,127 shares of the electric vehicle producer’s stock, valued at approximately $295,000.

Several other large investors also recently made changes to their positions in the company. Integris Wealth Management LLC increased its stake in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the period. Echo Wealth Management LLC increased its stake in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co increased its stake in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares during the period. Bellevue Asset Management LLC increased its stake in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after acquiring an additional 45 shares during the period. Finally, Cypress Capital Group increased its stake in shares of Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock traded up $9.42 during trading hours on Friday, hitting $250.08. 86,726,285 shares of the stock were exchanged, compared to its average volume of 81,772,848. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business’s 50-day moving average is $224.00 and its two-hundred day moving average is $201.39. The stock has a market capitalization of $798.92 billion, a P/E ratio of 63.80, a P/E/G ratio of 6.79 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the company earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 1.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Finally, New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $210.54.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock valued at $16,663,291 over the last three months. 25.10% of the stock is owned by insiders.

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.