Bangor Savings Bank Has $327,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bangor Savings Bank reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 810 shares of the electric vehicle producer’s stock after selling 55 shares during the quarter. Bangor Savings Bank’s holdings in Tesla were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group increased its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 4.1 %

Shares of NASDAQ TSLA opened at $394.36 on Wednesday. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 108.04, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm’s 50 day simple moving average is $368.03 and its two-hundred day simple moving average is $277.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,886 shares of company stock valued at $169,393,831. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TSLA. Stifel Nicolaus raised their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. HSBC restated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $295.69.

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.