Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 46,700 shares of the electric vehicle producer’s stock after selling 130 shares during the quarter. Hancock Whitney Corp’s holdings in Tesla were worth $12,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Connable Office Inc. increased its stake in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the period. Holistic Financial Partners lifted its position in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares during the period. Integris Wealth Management LLC boosted its stake in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Finally, Altman Advisors Inc. raised its stake in shares of Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSLA. William Blair initiated coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Finally, Jefferies Financial Group raised their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $230.18.

Tesla Price Performance

NASDAQ TSLA opened at $360.67 on Monday. The company has a 50 day moving average price of $264.07 and a two-hundred day moving average price of $226.79. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.53. The stock has a market capitalization of $1.16 trillion, a PE ratio of 96.59, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by corporate insiders.

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.