Trust Co. of Vermont Decreases Holdings in Tesla, Inc. $TSLA

Trust Co. of Vermont reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 38.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,761 shares of the electric vehicle producer’s stock after selling 4,203 shares during the period. Trust Co. of Vermont’s holdings in Tesla were worth $2,148,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TSLA. KWB Wealth increased its holdings in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its position in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its stake in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Kelly Financial Services LLC raised its position in shares of Tesla by 2.7% during the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock worth $423,000 after purchasing an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC lifted its stake in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after buying an additional 36 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of Tesla stock opened at $436.00 on Friday. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $361.74 and its 200 day moving average price is $319.98. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on 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 transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last ninety days. 19.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on TSLA. UBS Group reissued a “sell” rating and set a $215.00 price target on shares of Tesla in a research report on Thursday. Bank of America increased their price objective on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Dbs Bank lifted their price objective on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Wedbush upped their target price on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Friday, September 26th. Finally, Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $341.46.

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.