Fiduciary Trust Co Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fiduciary Trust Co raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 10,594 shares of the electric vehicle producer’s stock after purchasing an additional 1,425 shares during the period. Fiduciary Trust Co’s holdings in Tesla were worth $2,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new position in Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group grew its position 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 worth $33,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.6 %

Shares of TSLA opened at $332.89 on Friday. The stock has a market capitalization of $1.07 trillion, a PE ratio of 91.20, a P/E/G ratio of 10.81 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company’s 50-day simple moving average is $272.41 and its 200-day simple moving average is $230.60.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. Analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TSLA shares. William Blair started coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lifted their price objective on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $231.06.

Insider Activity at Tesla

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 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 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Company 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.