Chevy Chase Trust Holdings LLC Sells 27,042 Shares of Tesla, Inc. (NASDAQ:TSLA)

Chevy Chase Trust Holdings LLC cut its position in Tesla, Inc. (NASDAQ:TSLA) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,494,320 shares of the electric vehicle producer’s stock after selling 27,042 shares during the quarter. Tesla accounts for about 1.2% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 12th biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Tesla were worth $390,959,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TSLA. Bank & Trust Co bought a new position in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter worth about $29,000. Finally, Clean Yield Group raised its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Up 3.7 %

Shares of NASDAQ:TSLA opened at $345.16 on Monday. The company has a market capitalization of $1.11 trillion, a PE ratio of 94.56, a price-to-earnings-growth ratio of 11.21 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a fifty day moving average price of $274.55 and a two-hundred day moving average price of $232.59. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TSLA shares. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Bank of America lifted their target price on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Finally, HSBC reiterated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $240.00.

Tesla 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.