Adirondack Trust Co. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Adirondack Trust Co. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 31.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,134 shares of the electric vehicle producer’s stock after acquiring an additional 1,232 shares during the period. Adirondack Trust Co.’s holdings in Tesla were worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TSLA. Holderness Investments Co. increased its stake in Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after buying an additional 42 shares during the period. SCS Capital Management LLC increased its stake in Tesla by 0.3% during the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after buying an additional 45 shares during the period. Daymark Wealth Partners LLC increased its stake in Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares during the period. Cravens & Co Advisors LLC increased its stake in Tesla by 1.2% during the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after buying an additional 48 shares during the period. Finally, Patten & Patten Inc. TN increased its stake in Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.4 %

Tesla stock opened at $184.86 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $173.35 and a two-hundred day moving average price of $194.23. The firm has a market capitalization of $589.55 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 4.65 and a beta of 2.32. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Sell-side analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. Jefferies Financial Group dropped their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Mizuho dropped their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $175.00 target price on shares of Tesla in a research report on Friday, June 14th. Royal Bank of Canada dropped their target price on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $185.90.

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.