First National Trust Co Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

First National Trust Co lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 29.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 44,873 shares of the electric vehicle producer’s stock after acquiring an additional 10,147 shares during the quarter. First National Trust Co’s holdings in Tesla were worth $18,122,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TSLA. Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. purchased a new stake in Tesla during the fourth quarter valued at approximately $47,000. PayPay Securities Corp lifted its position in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of Tesla in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last 90 days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TSLA shares. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Guggenheim decreased their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday. Finally, Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $325.81.

Tesla Stock Down 3.0 %

Shares of Tesla stock opened at $240.68 on Friday. The stock has a market capitalization of $774.15 billion, a P/E ratio of 117.98, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $354.52 and a two-hundred day moving average price of $318.49. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.