Tesla, Inc. (NASDAQ:TSLA) Shares Sold by First County Bank CT

First County Bank CT lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,187 shares of the electric vehicle producer’s stock after selling 864 shares during the period. First County Bank CT’s holdings in Tesla were worth $883,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. Clean Yield Group grew its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter valued at approximately $26,000. Finally, Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter valued at approximately $35,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $19.45 during mid-day trading on Tuesday, hitting $391.60. 60,606,615 shares of the company were exchanged, compared to its average volume of 87,276,320. The stock has a 50 day simple moving average of $365.34 and a 200-day simple moving average of $276.00. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 107.29, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TSLA shares. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday. Guggenheim boosted their price objective on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $515.00 in a research report on Tuesday, December 17th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $295.69.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 514,886 shares of company stock worth $169,393,831. Company insiders own 20.70% of the company’s stock.

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.