CENTRAL TRUST Co Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

CENTRAL TRUST Co reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,604 shares of the electric vehicle producer's stock after selling 3,014 shares during the quarter. CENTRAL TRUST Co's holdings in Tesla were worth $2,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. lifted its stake in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. Pflug Koory LLC lifted its stake in shares of Tesla by 370.4% during the first quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock worth $33,000 after buying an additional 100 shares during the period. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the period. Finally, Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter worth $37,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares of the company's stock, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 over the last 90 days. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. UBS Group decreased their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. HSBC decreased their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $293.67.

Tesla Stock Down 3.8%

TSLA stock opened at $316.73 on Wednesday. The stock has a market capitalization of $1.02 trillion, a P/E ratio of 174.03, a P/E/G ratio of 12.36 and a beta of 2.47. The firm has a 50-day simple moving average of $302.42 and a 200-day simple moving average of $332.66. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $179.66 and a 52 week high of $488.54.

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 analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the firm earned $0.45 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.

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