Cambridge Trust Co. Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cambridge Trust Co. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the first quarter, HoldingsChannel reports. The firm owned 5,029 shares of the electric vehicle producer’s stock after selling 153 shares during the period. Cambridge Trust Co.’s holdings in Tesla were worth $884,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TSLA. Norges Bank bought a new stake in shares of Tesla in the 4th quarter worth approximately $7,844,757,000. International Assets Investment Management LLC raised its stake in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. raised its stake in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after acquiring an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,719 shares of company stock valued at $32,032,968. Insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on TSLA shares. The Goldman Sachs Group cut their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Guggenheim reiterated a “sell” rating and set a $134.00 price target on shares of Tesla in a research report on Tuesday, July 23rd. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Finally, China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $204.30.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $9.19 during trading hours on Friday, hitting $207.67. 82,880,120 shares of the company’s stock were exchanged, compared to its average volume of 126,158,848. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. 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 has a market capitalization of $663.43 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 5.60 and a beta of 2.31. The company’s 50-day moving average price is $210.01 and its 200-day moving average price is $191.08.

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 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 business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm posted $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

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.