Essex Savings Bank Has $1.33 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Essex Savings Bank grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,300 shares of the electric vehicle producer’s stock after acquiring an additional 172 shares during the period. Essex Savings Bank’s holdings in Tesla were worth $1,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth $29,000. Clean Yield Group raised its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $413.82 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a fifty day moving average of $385.50 and a 200 day moving average of $285.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 113.38, a P/E/G ratio of 6.53 and a beta of 2.30.

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

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $299.33.

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.