Mechanics Bank Trust Department Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Mechanics Bank Trust Department acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,113 shares of the electric vehicle producer's stock, valued at approximately $288,000.

Other hedge funds also recently bought and sold shares of the company. Wallace Advisory Group LLC raised its holdings in Tesla by 18.4% during the 1st quarter. Wallace Advisory Group LLC now owns 1,474 shares of the electric vehicle producer's stock valued at $382,000 after buying an additional 229 shares during the last quarter. Sanders Morris Harris LLC grew its stake in shares of Tesla by 74.2% in the first quarter. Sanders Morris Harris LLC now owns 5,105 shares of the electric vehicle producer's stock worth $1,323,000 after purchasing an additional 2,175 shares during the last quarter. Castle Rock Wealth Management LLC grew its position in shares of Tesla by 9.8% in the 1st quarter. Castle Rock Wealth Management LLC now owns 4,089 shares of the electric vehicle producer's stock worth $1,124,000 after buying an additional 364 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Tesla by 0.4% during the first quarter. Rhumbline Advisers now owns 5,224,516 shares of the electric vehicle producer's stock valued at $1,353,985,000 after acquiring an additional 20,295 shares in the last quarter. Finally, Aletheian Wealth Advisors LLC lifted its stake in Tesla by 35.0% in the first quarter. Aletheian Wealth Advisors LLC now owns 3,334 shares of the electric vehicle producer's stock worth $864,000 after acquiring an additional 864 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

NASDAQ TSLA traded down $10.20 during trading hours on Thursday, reaching $321.85. The company's stock had a trading volume of 66,708,569 shares, compared to its average volume of 98,254,625. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 157.34, a PEG ratio of 5.86 and a beta of 2.47. The firm's 50-day moving average price is $291.12 and its 200-day moving average price is $334.34.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm posted $0.45 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada cut their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Bank of America cut their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. UBS Group dropped their price target on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $293.97.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 870,721 shares of company stock worth $286,248,728. Insiders own 20.70% 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.