Grove Bank & Trust Purchases 174 Shares of Tesla, Inc. (NASDAQ:TSLA)

Grove Bank & Trust boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the first quarter, HoldingsChannel.com reports. The firm owned 3,133 shares of the electric vehicle producer’s stock after acquiring an additional 174 shares during the period. Grove Bank & Trust’s holdings in Tesla were worth $812,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TSLA. Wealth Group Ltd. purchased a new stake in shares of Tesla during the fourth quarter worth about $275,000. Tallon Kerry Patrick purchased a new stake in shares of Tesla during the fourth quarter worth about $374,000. Eagle Capital Management LLC purchased a new stake in shares of Tesla during the fourth quarter worth about $331,000. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $329.13 on Tuesday. The stock has a market cap of $1.06 trillion, a PE ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The business has a fifty day simple moving average of $301.53 and a 200-day simple moving average of $332.77. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $177.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the business earned $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Raymond James lowered Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company dropped their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Finally, Glj Research restated a “sell” rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $293.67.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% 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, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company’s stock.

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.