City State Bank Has $991,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

City State Bank raised its position in Tesla, Inc. (NASDAQ:TSLA) by 33.4% during the first quarter, Holdings Channel reports. The firm owned 3,822 shares of the electric vehicle producer’s stock after purchasing an additional 956 shares during the period. City State Bank’s holdings in Tesla were worth $991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vista Finance LLC increased its stake in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. Jmac Enterprises LLC increased its stake in Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after purchasing an additional 26 shares in the last quarter. TFB Advisors LLC increased its stake in Tesla by 0.5% during the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock valued at $2,105,000 after purchasing an additional 27 shares in the last quarter. Vista Capital Partners Inc. increased its stake in Tesla by 1.4% during the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after purchasing an additional 27 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC increased its stake in Tesla by 1.3% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 3.7%

Shares of TSLA opened at $295.14 on Friday. The firm’s 50 day simple moving average is $292.17 and its 200 day simple moving average is $333.62. The company has a market capitalization of $950.63 billion, a P/E ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the business earned $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares in the company, valued at $682,500. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 870,721 shares of company stock valued at $286,248,728. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Barclays reduced their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reduced their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $294.27.

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.