Tesla, Inc. (NASDAQ:TSLA) Shares Sold by First County Bank CT

First County Bank CT cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 28.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,187 shares of the electric vehicle producer’s stock after selling 864 shares during the quarter. First County Bank CT’s holdings in Tesla were worth $883,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Connable Office Inc. increased its position in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares in the last quarter. Community Bank N.A. increased its position in Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners lifted its holdings in Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its stake in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. grew its holdings in shares of Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 514,886 shares of company stock valued at $169,393,831. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TSLA shares. Truist Financial restated a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler increased their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, UBS Group increased their price objective on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Down 4.7 %

TSLA stock traded down $19.45 during mid-day trading on Tuesday, hitting $391.60. 60,606,615 shares of the company were exchanged, compared to its average volume of 87,276,320. The firm has a fifty day simple moving average of $365.34 and a 200 day simple moving average of $276.00. The company has a market capitalization of $1.26 trillion, a PE ratio of 107.29, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company earned $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.