City State Bank Has $991,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

City State Bank lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,822 shares of the electric vehicle producer's stock after purchasing an additional 956 shares during the period. City State Bank's holdings in Tesla were worth $991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vista Finance LLC lifted its stake in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after buying an additional 25 shares during the last quarter. Jmac Enterprises LLC raised its stake in Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock worth $1,569,000 after purchasing an additional 26 shares in the last quarter. TFB Advisors LLC raised its stake in Tesla by 0.5% in the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer's stock worth $2,105,000 after purchasing an additional 27 shares in the last quarter. Vista Capital Partners Inc. raised its stake in Tesla by 1.4% in the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer's stock worth $795,000 after purchasing an additional 27 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC raised its stake in Tesla by 1.3% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer's stock worth $875,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 3.7%

Shares of Tesla stock opened at $295.14 on Friday. The firm has a market capitalization of $950.63 billion, a PE ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm's 50 day moving average is $292.17 and its 200 day moving average is $333.62. Tesla, Inc. has a 1 year low of $167.41 and a 1 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 870,721 shares of company stock worth $286,248,728 in the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. HSBC dropped their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Guggenheim reiterated a "sell" rating and issued a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $294.27.

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.

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