Indiana Trust & Investment Management Co Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Indiana Trust & Investment Management Co boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,063 shares of the electric vehicle producer’s stock after acquiring an additional 835 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Tesla were worth $1,237,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Tesla by 28.3% in the 3rd quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock worth $221,677,000 after buying an additional 197,839 shares during the period. Swedbank AB lifted its holdings in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the period. Marshall Financial Group LLC lifted its holdings in shares of Tesla by 3.7% in the 3rd quarter. Marshall Financial Group LLC now owns 2,546 shares of the electric vehicle producer’s stock worth $666,000 after buying an additional 92 shares during the period. AlphaMark Advisors LLC lifted its holdings in shares of Tesla by 15.4% in the 3rd quarter. AlphaMark Advisors LLC now owns 1,095 shares of the electric vehicle producer’s stock worth $286,000 after buying an additional 146 shares during the period. Finally, Bar Harbor Wealth Management purchased a new stake in shares of Tesla in the 3rd quarter worth $238,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on TSLA. Piper Sandler upped their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Truist Financial boosted their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $326.50.

Tesla Stock Down 0.0 %

Shares of TSLA opened at $355.84 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34. The stock’s 50-day moving average price is $406.31 and its 200-day moving average price is $307.64.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

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.