Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,249 shares of the electric vehicle producer’s stock after selling 124 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Tesla were worth $850,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Integris Wealth Management LLC grew its holdings 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 buying an additional 42 shares during the last quarter. Echo Wealth Management LLC boosted its stake in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its position in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC raised its stake in Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. Finally, Cypress Capital Group lifted its holdings in Tesla by 1.7% in the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after purchasing an additional 47 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last 90 days. 25.10% of the stock is owned by corporate insiders.

Tesla Price Performance

TSLA opened at $240.66 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The firm has a market cap of $767.51 billion, a price-to-earnings ratio of 61.39, a PEG ratio of 7.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $223.40 and a 200 day simple moving average of $200.86.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TSLA shares. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Thursday, September 26th. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Monday. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $210.54.

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.