Sanibel Captiva Trust Company Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sanibel Captiva Trust Company Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 27,102 shares of the electric vehicle producer’s stock after buying an additional 3,530 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Tesla were worth $7,091,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC grew its position 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 period. Clean Yield Group increased its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.4 %

Tesla stock opened at $241.05 on Thursday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The stock has a market cap of $770.07 billion, a PE ratio of 61.49, a P/E/G ratio of 6.80 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock’s fifty day moving average is $224.61 and its two-hundred day moving average is $202.78.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Argus restated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Finally, The Goldman Sachs Group decreased their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $210.90.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This 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. 25.10% of the stock is currently 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.