CNB Bank lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 27.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,699 shares of the electric vehicle producer’s stock after buying an additional 366 shares during the period. Tesla makes up about 1.0% of CNB Bank’s investment portfolio, making the stock its 26th largest holding. CNB Bank’s holdings in Tesla were worth $1,831,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Trinity Legacy Partners LLC lifted its position in Tesla by 23.2% in the first quarter. Trinity Legacy Partners LLC now owns 260 shares of the electric vehicle producer’s stock worth $280,000 after purchasing an additional 49 shares during the period. Centre Asset Management LLC acquired a new stake in Tesla in the first quarter worth approximately $6,604,000. Coastal Investment Advisors Inc. lifted its position in Tesla by 2.5% in the first quarter. Coastal Investment Advisors Inc. now owns 6,932 shares of the electric vehicle producer’s stock worth $7,470,000 after purchasing an additional 170 shares during the period. Johnson Midwest Financial LLC lifted its position in Tesla by 26.8% in the first quarter. Johnson Midwest Financial LLC now owns 507 shares of the electric vehicle producer’s stock worth $546,000 after purchasing an additional 107 shares during the period. Finally, Garrison Bradford & Associates Inc. lifted its position in Tesla by 4.9% in the first quarter. Garrison Bradford & Associates Inc. now owns 1,180 shares of the electric vehicle producer’s stock worth $1,272,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 40.64% of the company’s stock.
A number of equities research analysts have weighed in on TSLA shares. Exane BNP Paribas cut their target price on Tesla from $700.00 to $600.00 and set an “underperform” rating for the company in a research report on Wednesday, May 18th. Barclays increased their price objective on Tesla from $325.00 to $370.00 and gave the company an “underweight” rating in a research report on Friday, June 10th. StockNews.com initiated coverage on Tesla in a research report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their price objective on Tesla from $335.00 to $395.00 and gave the company an “underweight” rating in a research report on Thursday, April 21st. Finally, Berenberg Bank initiated coverage on Tesla in a research report on Tuesday, May 10th. They set a “hold” rating and a $900.00 price objective for the company. Eight investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $894.73.
Tesla (NASDAQ:TSLA – Get Rating) last released its earnings results on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share for the quarter, beating the consensus estimate of $1.64 by $1.22. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The business had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $17.84 billion. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was up 80.5% on a year-over-year basis. Equities analysts expect that Tesla, Inc. will post 10.25 EPS for the current fiscal year.
In related news, SVP Andrew D. Baglino sold 433 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $718.31, for a total value of $311,028.23. Following the completion of the transaction, the senior vice president now owns 20,567 shares of the company’s stock, valued at $14,773,481.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Vaibhav Taneja sold 1,518 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $718.31, for a total transaction of $1,090,394.58. Following the completion of the transaction, the chief accounting officer now directly owns 26,449 shares of the company’s stock, valued at approximately $18,998,581.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 416,669 shares of company stock valued at $369,312,309. 25.00% of the stock is owned by corporate insiders.
Tesla Profile (Get Rating)
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.
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