Sanibel Captiva Trust Company Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sanibel Captiva Trust Company Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,774 shares of the electric vehicle producer's stock after purchasing an additional 5,733 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Tesla were worth $8,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC grew its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% during the 4th 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 in the last quarter. GS Investments Inc. lifted its position in Tesla by 193.3% in the 4th 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 last quarter. Navigoe LLC bought a new position in Tesla during the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA traded up $0.34 during trading hours on Wednesday, hitting $326.43. The company had a trading volume of 121,649,309 shares, compared to its average volume of 100,661,913. The business has a 50 day moving average of $293.86 and a 200-day moving average of $333.15. The company has a market cap of $1.05 trillion, a PE ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $169.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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 return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock valued at $273,791,775 in the last ninety days. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Guggenheim reissued a "sell" rating and issued a $170.00 price target on shares of Tesla in a research note on Thursday, April 24th. UBS Group dropped their price target 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. The Goldman Sachs Group decreased their price objective on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $293.67.

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.