AMG National Trust Bank Has $1.08 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

AMG National Trust Bank lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 87.4% in the third quarter, HoldingsChannel.com reports. The firm owned 4,142 shares of the electric vehicle producer’s stock after selling 28,721 shares during the quarter. AMG National Trust Bank’s holdings in Tesla were worth $1,084,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its position in shares of Tesla by 0.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after acquiring an additional 331 shares during the last quarter. Bessemer Group Inc. lifted its position in Tesla by 113.9% during the 1st quarter. Bessemer Group Inc. now owns 65,437 shares of the electric vehicle producer’s stock valued at $11,503,000 after purchasing an additional 34,850 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Tesla by 264.1% in the 1st quarter. EntryPoint Capital LLC now owns 670 shares of the electric vehicle producer’s stock valued at $118,000 after purchasing an additional 486 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Tesla by 14.5% during the 1st quarter. EP Wealth Advisors LLC now owns 71,436 shares of the electric vehicle producer’s stock worth $12,558,000 after buying an additional 9,069 shares during the period. Finally, Axxcess Wealth Management LLC raised its stake in shares of Tesla by 14.4% during the first quarter. Axxcess Wealth Management LLC now owns 54,684 shares of the electric vehicle producer’s stock worth $9,613,000 after buying an additional 6,895 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $346.00 on Wednesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The stock has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 94.79, a PEG ratio of 10.42 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 50-day moving average of $257.14 and a 200-day moving average of $223.29.

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

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TSLA shares. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Stifel Nicolaus lifted their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $230.18.

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.