Keybank National Association OH Increases Position in Tesla, Inc. $TSLA

Keybank National Association OH lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,607 shares of the electric vehicle producer’s stock after buying an additional 587 shares during the quarter. Keybank National Association OH’s holdings in Tesla were worth $15,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter worth about $27,000. Chelsea Counsel Co. increased its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. Centennial Bank AR increased its stake in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares during the period. LGT Financial Advisors LLC purchased a new stake in Tesla during the 2nd quarter worth approximately $29,000. Finally, Compass Wealth Management LLC increased its stake in Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. New Street Research upped their target price on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $388.51.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Down 4.6%

TSLA stock opened at $440.10 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company’s 50 day moving average is $408.19 and its two-hundred day moving average is $346.05. The stock has a market cap of $1.46 trillion, a P/E ratio of 293.40, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the business earned $0.72 EPS. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.