Tesla, Inc. $TSLA Shares Acquired by First United Bank & Trust

Key Points

• First United Bank & Trust increased its stake in Tesla by 76.1%, owning 3,074 shares worth approximately $976,000 after acquiring an additional 1,328 shares in the second quarter.
• Wall Street analysts have recently raised Tesla's ratings, with Baird R W upgrading it to "strong-buy" and some analysts targeting a price increase to as high as $548.00.
• Insider trading activity included CFO Vaibhav Taneja selling 4,000 shares and Director James R. Murdoch selling 120,000 shares, indicating shifts in insider ownership.

First United Bank & Trust grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 76.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,074 shares of the electric vehicle producer's stock after buying an additional 1,328 shares during the period. First United Bank & Trust's holdings in Tesla were worth $976,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. increased its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Dbs Bank lifted their price objective on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $337.15.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last quarter. 19.90% of the stock is owned by corporate insiders.

Tesla Price Performance

TSLA stock opened at $459.46 on Thursday. The stock has a 50-day moving average price of $359.13 and a two-hundred day moving average price of $318.62. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.53 trillion, a PE ratio of 265.58, a price-to-earnings-growth ratio of 15.46 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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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