Orrstown Financial Services Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Orrstown Financial Services Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 19.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,890 shares of the electric vehicle producer’s stock after buying an additional 310 shares during the period. Orrstown Financial Services Inc.’s holdings in Tesla were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. bought a new position in Tesla during the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC grew its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Tesla in the 4th quarter worth approximately $37,000. Finally, Guardian Wealth Management Inc. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $47,000. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock worth $19,285,643 over the last three months. 20.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. HSBC decreased their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $175.00 price objective on shares of Tesla in a research note on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $185.90.

Get Our Latest Stock Analysis on Tesla

Tesla Trading Down 1.4 %

Shares of NASDAQ:TSLA opened at $184.86 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $589.55 billion, a P/E ratio of 47.16, a P/E/G ratio of 4.65 and a beta of 2.32. The business’s 50-day moving average is $173.35 and its 200 day moving average is $194.23.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, research analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Tesla Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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