Cape ANN Savings Bank Takes $444,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Cape ANN Savings Bank acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,697 shares of the electric vehicle producer’s stock, valued at approximately $444,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter valued at $25,000. Clean Yield Group lifted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the second quarter worth approximately $26,000. Finally, M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Tesla Trading Up 1.5 %

TSLA stock opened at $244.50 on Wednesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a market capitalization of $781.09 billion, a price-to-earnings ratio of 62.37, a price-to-earnings-growth ratio of 6.80 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $224.18 and its two-hundred day simple moving average is $202.26.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Guggenheim lifted their target price on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Monday. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday. Finally, The Goldman Sachs Group reduced their target price on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $210.90.

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.