Berkshire Bank Has $519,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Berkshire Bank cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 73.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,004 shares of the electric vehicle producer's stock after selling 5,620 shares during the period. Berkshire Bank's holdings in Tesla were worth $519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wealth Group Ltd. bought a new position in shares of Tesla during the 4th quarter worth about $275,000. Tallon Kerry Patrick bought a new position in Tesla during the fourth quarter worth about $374,000. Eagle Capital Management LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $331,000. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Guggenheim reiterated a "sell" rating on shares of Tesla in a research report on Friday, June 13th. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Friday. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $293.67.

Tesla Trading Up 0.0%

NASDAQ:TSLA traded up $0.11 during trading hours on Friday, hitting $322.16. The stock had a trading volume of 108,081,721 shares, compared to its average volume of 100,816,555. The business's 50 day moving average is $304.81 and its 200-day moving average is $332.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a P/E/G ratio of 12.04 and a beta of 2.47. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company's stock.

Tesla Company 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.