AMG National Trust Bank Purchases 1,970 Shares of Tesla, Inc. $TSLA

AMG National Trust Bank boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 42.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,641 shares of the electric vehicle producer’s stock after buying an additional 1,970 shares during the period. AMG National Trust Bank’s holdings in Tesla were worth $2,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Siren L.L.C. bought a new position in Tesla in the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC grew its position in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new position in Tesla in the first quarter valued at about $594,000. Strs Ohio bought a new position in Tesla in the first quarter valued at about $205,495,000. Finally, IFM Investors Pty Ltd grew its holdings in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on TSLA shares. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Canaccord Genuity Group lowered their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Melius started coverage on Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price objective for the company. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $388.51.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $456.56 on Friday. The business’s 50 day simple moving average is $410.52 and its 200 day simple moving average is $347.47. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The stock has a market capitalization of $1.52 trillion, a PE ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.