Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Boosted by Eastern Bank

Eastern Bank lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 65.2% in the 3rd quarter, Holdings Channel reports. The fund owned 7,655 shares of the electric vehicle producer’s stock after buying an additional 3,020 shares during the period. Eastern Bank’s holdings in Tesla were worth $2,003,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TSLA. Bank & Trust Co bought a new position in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Clean Yield Group grew its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. boosted its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 0.4 %

Shares of Tesla stock opened at $217.97 on Wednesday. The company’s fifty day simple moving average is $228.30 and its 200-day simple moving average is $206.36. The company has a market cap of $695.15 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 6.31 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. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00.

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

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. William Blair initiated coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and raised their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $230.00 price objective on shares of Tesla in a research report on Friday, October 11th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $211.63.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last ninety days. 25.10% of the stock is owned by company insiders.

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.