Rockland Trust Co. Buys New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Rockland Trust Co. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 881 shares of the electric vehicle producer’s stock, valued at approximately $230,000.

A number of other large investors also recently modified their holdings of the company. Bank & Trust Co acquired a new position in Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its position 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 during the period. M&R Capital Management Inc. increased its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in Tesla in the fourth quarter valued at about $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday. KGI Securities reaffirmed a “neutral” rating and set a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Guggenheim boosted their price objective on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $210.54.

Tesla Stock Performance

Tesla stock traded up $9.42 during midday trading on Friday, reaching $250.08. 86,726,285 shares of the stock traded hands, compared to its average volume of 81,772,848. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $798.92 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29. The firm has a fifty day moving average price of $224.00 and a two-hundred day moving average price of $201.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 1.74 earnings per share for the current 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.