Smithfield Trust Co Sells 150 Shares of Tesla, Inc. $TSLA

Smithfield Trust Co trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,626 shares of the electric vehicle producer’s stock after selling 150 shares during the quarter. Smithfield Trust Co’s holdings in Tesla were worth $836,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. LGT Financial Advisors LLC acquired a new stake in Tesla in the second quarter valued at $29,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Evergreen Private Wealth LLC increased its stake in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares during the period. Glynn Capital Management LLC bought a new position in shares of Tesla during the second quarter worth about $35,000. Finally, Maseco LLP acquired a new position in shares of Tesla in the second quarter worth approximately $39,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. HSBC increased their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. CICC Research increased their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Roth Capital set a $505.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group decreased their price target on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $391.08.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was 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 directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $430.60 on Thursday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The stock’s 50 day moving average is $427.33 and its 200-day moving average is $359.18. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 287.07, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the firm posted $0.72 EPS. Tesla’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.