Tesla, Inc. (NASDAQ:TSLA) Position Reduced by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,244 shares of the electric vehicle producer’s stock after selling 77 shares during the period. Enterprise Bank & Trust Co’s holdings in Tesla were worth $502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Oppenheimer Asset Management Inc. raised its holdings in Tesla by 112.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,857 shares of the electric vehicle producer’s stock worth $7,095,000 after purchasing an additional 18,953 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Tesla by 20.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,101,923 shares of the electric vehicle producer’s stock valued at $218,048,000 after buying an additional 185,335 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of Tesla by 23.4% in the second quarter. Inspire Advisors LLC now owns 2,012 shares of the electric vehicle producer’s stock valued at $398,000 after buying an additional 382 shares in the last quarter. Williams Financial LLC bought a new position in shares of Tesla in the second quarter valued at $2,867,000. Finally, Seven Mile Advisory raised its stake in Tesla by 23.6% during the 2nd quarter. Seven Mile Advisory now owns 2,557 shares of the electric vehicle producer’s stock valued at $506,000 after purchasing an additional 489 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TSLA shares. Morgan Stanley boosted their target price on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial reissued a “hold” rating and set a $360.00 target price on shares of Tesla in a research note on Thursday, January 2nd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $296.60.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

NASDAQ:TSLA traded down $0.59 during mid-day trading on Monday, hitting $394.15. The company’s stock had a trading volume of 52,206,493 shares, compared to its average volume of 79,029,883. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week 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. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 107.99, a P/E/G ratio of 10.80 and a beta of 2.30. The stock has a fifty day moving average of $376.60 and a 200-day moving average of $281.84.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.