Tesla, Inc. $TSLA Shares Sold by Trust Co. of Vermont

Key Points

• Trust Co. of Vermont reduced its holdings in Tesla by 38.3%, selling 4,203 shares, leaving them with a total of 6,761 shares, valued at approximately $2.15 million.
• Recent analyst ratings for Tesla show a mix of opinions, with Benchmark maintaining a "buy" rating and increasing the target price to $475, while UBS set a "sell" rating at $215.
• Insider activity includes the CFO selling 2,606 shares and a senior VP selling 20,000 shares, collectively amounting to significant ownership reductions and totaling over $8 million in stock sales.

Trust Co. of Vermont lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 38.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,761 shares of the electric vehicle producer's stock after selling 4,203 shares during the period. Trust Co. of Vermont's holdings in Tesla were worth $2,148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter valued at approximately $27,000. Newton One Investments LLC raised its holdings 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 purchasing an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. UBS Group reaffirmed a "sell" rating and set a $215.00 price objective on shares of Tesla in a report on Thursday. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $341.46.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 in the last three months. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Down 5.1%

TSLA stock opened at $436.00 on Friday. The stock has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a price-to-earnings-growth ratio of 15.97 and a beta of 2.08. The company has a fifty day moving average of $361.74 and a 200-day moving average of $319.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, analysts expect 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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