Berkshire Bank Sells 575 Shares of Tesla, Inc. (NASDAQ:TSLA)

Berkshire Bank lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,624 shares of the electric vehicle producer’s stock after selling 575 shares during the quarter. Berkshire Bank’s holdings in Tesla were worth $3,079,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC boosted its position in shares of Tesla by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,101 shares of the electric vehicle producer’s stock valued at $14,579,000 after acquiring an additional 1,407 shares during the period. tru Independence LLC bought a new stake in Tesla in the 4th quarter valued at $233,000. Cornell Pochily Investment Advisors Inc. grew its position in Tesla by 10.0% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 3,639 shares of the electric vehicle producer’s stock worth $1,469,000 after purchasing an additional 330 shares during the last quarter. Summit Financial Strategies Inc. increased its holdings in shares of Tesla by 14.0% during the 4th quarter. Summit Financial Strategies Inc. now owns 10,772 shares of the electric vehicle producer’s stock worth $4,350,000 after purchasing an additional 1,321 shares during the period. Finally, Heartland Bank & Trust Co raised its position in shares of Tesla by 0.8% during the fourth quarter. Heartland Bank & Trust Co now owns 6,286 shares of the electric vehicle producer’s stock valued at $2,539,000 after buying an additional 49 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Morgan Stanley increased their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $318.31.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 553,386 shares of company stock worth $196,305,796. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $400.28 on Friday. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.67, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $401.98 and a 200-day moving average of $297.28.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. On average, equities research analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.

Tesla 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.