Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Berkshire Bank

Berkshire Bank trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,624 shares of the electric vehicle producer’s stock after selling 575 shares during the period. Berkshire Bank’s holdings in Tesla were worth $3,079,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quarry LP acquired a new position in Tesla in the second quarter valued at approximately $48,000. Cim LLC bought a new stake in shares of Tesla in the 2nd quarter worth approximately $292,000. Heritage Wealth Management Inc. acquired a new position in Tesla during the 2nd quarter valued at approximately $269,000. Centaurus Financial Inc. grew its stake in Tesla by 41.0% during the 2nd quarter. Centaurus Financial Inc. now owns 23,470 shares of the electric vehicle producer’s stock worth $4,644,000 after buying an additional 6,823 shares during the last quarter. Finally, Ashburton Jersey Ltd acquired a new stake in Tesla in the second quarter worth $63,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $400.28 on Friday. The company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.67, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year 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 stock’s fifty day simple moving average is $401.98 and its 200-day simple moving average is $297.28.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 13.07% and a return on equity of 10.24%. On average, sell-side analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. raised their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Piper Sandler raised their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned 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, the stock presently has an average rating of “Hold” and an average price target of $318.31.

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.