Legacy Private Trust Co. Sells 1,435 Shares of Tesla, Inc. (NASDAQ:TSLA)

Legacy Private Trust Co. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 19.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,984 shares of the electric vehicle producer’s stock after selling 1,435 shares during the quarter. Legacy Private Trust Co.’s holdings in Tesla were worth $1,566,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after acquiring an additional 206,248 shares in the last quarter. Morse Asset Management Inc raised its stake in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after acquiring an additional 3,462 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after acquiring an additional 1,943 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Tesla during the first quarter worth approximately $1,941,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 1.5 %

Shares of NASDAQ:TSLA opened at $244.50 on Wednesday. The business has a 50-day moving average price of $224.18 and a 200-day moving average price of $202.26. 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 stock has a market cap of $781.09 billion, a price-to-earnings ratio of 62.37, a PEG ratio of 6.80 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

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

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Barclays decreased their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Truist Financial lifted their price target on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, TD Cowen lifted their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $210.90.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla 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 transaction of $65,865.69. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was 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 of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Insiders own 25.10% of the company’s stock.

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.