CNB Bank Buys 101 Shares of Tesla, Inc. (NASDAQ:TSLA)

CNB Bank boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,042 shares of the electric vehicle producer’s stock after acquiring an additional 101 shares during the period. Tesla accounts for 1.1% of CNB Bank’s portfolio, making the stock its 19th largest holding. CNB Bank’s holdings in Tesla were worth $2,366,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. RFG Advisory LLC lifted its position in Tesla by 3.2% during the first quarter. RFG Advisory LLC now owns 10,122 shares of the electric vehicle producer’s stock valued at $1,779,000 after purchasing an additional 311 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Tesla by 24.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 20,130 shares of the electric vehicle producer’s stock valued at $3,539,000 after acquiring an additional 3,980 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Tesla in the first quarter worth about $279,000. Baker Boyer National Bank increased its stake in Tesla by 10.2% during the first quarter. Baker Boyer National Bank now owns 2,661 shares of the electric vehicle producer’s stock worth $468,000 after acquiring an additional 247 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in Tesla by 11.5% during the first quarter. AdvisorNet Financial Inc now owns 19,424 shares of the electric vehicle producer’s stock valued at $3,415,000 after purchasing an additional 2,004 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s 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 sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 in the last 90 days. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

TSLA opened at $220.70 on Friday. The firm’s 50-day moving average price is $227.67 and its 200-day moving average price is $205.39. The company has a market cap of $703.86 billion, a P/E ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TSLA shares. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 target price on shares of Tesla in a research note on Friday, September 13th. The Goldman Sachs Group reiterated a “neutral” rating and set a $230.00 price target on shares of Tesla in a report on Friday, October 11th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday. Finally, Guggenheim increased their price target on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $210.72.

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.