1ST Source Bank Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

1ST Source Bank reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 987 shares of the electric vehicle producer’s stock after selling 87 shares during the period. 1ST Source Bank’s holdings in Tesla were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Connable Office Inc. raised its stake in shares of Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the period. Community Bank N.A. boosted its holdings in Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners grew its position in Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the last quarter. Integris Wealth Management LLC increased its stake in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc lifted its position in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Piper Sandler upped their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $257.36.

Tesla Trading Up 4.3 %

Tesla stock opened at $436.23 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.40 trillion, a PE ratio of 119.52, a P/E/G ratio of 10.52 and a beta of 2.36. The stock’s 50 day simple moving average is $301.74 and its two-hundred day simple moving average is $246.51. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $436.30.

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

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is owned by company 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.