CNB Bank Purchases 1,243 Shares of Tesla, Inc. (NASDAQ:TSLA)

CNB Bank boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,764 shares of the electric vehicle producer's stock after acquiring an additional 1,243 shares during the quarter. Tesla accounts for approximately 1.3% of CNB Bank's portfolio, making the stock its 18th largest holding. CNB Bank's holdings in Tesla were worth $2,530,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the last quarter. True Wealth Design LLC grew 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 valued at $28,000 after buying an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. grew 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 valued at $32,000 after buying an additional 34 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction 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 sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock opened at $323.63 on Friday. The firm has a 50 day moving average price of $314.93 and a 200-day moving average price of $330.48. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The firm has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.18 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last released its 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 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Bank of America cut their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. cut their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $298.37.

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.

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