Huntington National Bank Sells 2,260 Shares of Tesla, Inc. $TSLA

Huntington National Bank decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,518 shares of the electric vehicle producer’s stock after selling 2,260 shares during the period. Huntington National Bank’s holdings in Tesla were worth $45,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Brighton Jones LLC lifted its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC raised its position in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. Compass Wealth Management LLC raised its position in Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Tesla by 4.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,267,853 shares of the electric vehicle producer’s stock worth $328,577,000 after acquiring an additional 57,189 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. 19.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research note on Monday, October 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. New Street Research raised their target price on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, TD Cowen raised their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $390.27.

Tesla Price Performance

Tesla stock opened at $468.37 on Tuesday. The firm has a 50-day moving average price of $412.95 and a 200-day moving average price of $350.47. The firm has a market capitalization of $1.56 trillion, a PE ratio of 312.25, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

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