First Citizens Bank & Trust Co. Sells 13,251 Shares of Tesla, Inc. (NASDAQ:TSLA)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,359 shares of the electric vehicle producer's stock after selling 13,251 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Tesla were worth $13,051,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSLA. Wealth Group Ltd. bought a new stake in shares of Tesla during the 4th quarter worth $275,000. Comprehensive Financial Planning Inc. PA bought a new stake in Tesla during the fourth quarter valued at about $1,361,000. Tallon Kerry Patrick acquired a new stake in shares of Tesla in the fourth quarter valued at about $374,000. Eagle Capital Management LLC bought a new position in shares of Tesla in the fourth quarter worth about $331,000. Finally, Brighton Jones LLC lifted its position in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $295.14 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a fifty day moving average price of $292.17 and a two-hundred day moving average price of $333.51. The stock has a market cap of $950.63 billion, a P/E ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the firm earned $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Glj Research restated a "sell" rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. The Goldman Sachs Group cut their target price on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $294.27.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were 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 directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm'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 sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 815,945 shares of company stock worth $273,059,215. Insiders own 20.70% of the company's stock.

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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