Legacy Private Trust Co. Buys 610 Shares of Tesla, Inc. (NASDAQ:TSLA)

Legacy Private Trust Co. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.4% during the 1st quarter, HoldingsChannel reports. The firm owned 6,477 shares of the electric vehicle producer’s stock after purchasing an additional 610 shares during the quarter. Legacy Private Trust Co.’s holdings in Tesla were worth $1,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. lifted its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new position in shares of Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 2.6%

Shares of TSLA opened at $349.09 on Friday. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The firm has a market cap of $1.12 trillion, a P/E ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The firm’s 50-day simple moving average is $286.92 and its 200 day simple moving average is $333.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the sale, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock worth $320,019,942 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Glj Research reiterated a “sell” rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $293.97.

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.