First Western Trust Bank Sells 68 Shares of Tesla, Inc. (NASDAQ:TSLA)

First Western Trust Bank reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,051 shares of the electric vehicle producer’s stock after selling 68 shares during the quarter. First Western Trust Bank’s holdings in Tesla were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tesla by 1.6% in the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Tesla by 34.0% during the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after acquiring an additional 2,293,344 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Canaccord Genuity Group decreased their price target on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Wedbush reissued an “outperform” rating and set a $275.00 price objective on shares of Tesla in a research note on Monday, April 29th. Sanford C. Bernstein lowered their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.90.

Tesla Stock Down 1.6 %

NASDAQ:TSLA traded down $2.75 on Thursday, reaching $171.97. 65,507,336 shares of the stock traded hands, compared to its average volume of 103,424,625. The company’s fifty day simple moving average is $172.57 and its 200 day simple moving average is $204.11. The company has a market capitalization of $548.45 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 302,803 shares of company stock valued at $56,124,840 over the last 90 days. Corporate insiders own 20.90% of the company’s stock.

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.