Trust Point Inc. Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Trust Point Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,335 shares of the electric vehicle producer's stock, valued at approximately $2,817,000.

Several other institutional investors have also added to or reduced their stakes in the company. Synergy Financial Group LTD raised its stake in shares of Tesla by 7.3% during the second quarter. Synergy Financial Group LTD now owns 6,432 shares of the electric vehicle producer's stock valued at $1,684,000 after acquiring an additional 438 shares in the last quarter. New Republic Capital LLC bought a new stake in shares of Tesla during the second quarter valued at approximately $429,000. Oak Ridge Investments LLC raised its stake in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer's stock valued at $8,065,000 after acquiring an additional 1,405 shares in the last quarter. Charter Oak Capital Management LLC raised its stake in shares of Tesla by 8.9% during the third quarter. Charter Oak Capital Management LLC now owns 1,271 shares of the electric vehicle producer's stock valued at $318,000 after acquiring an additional 104 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Tesla by 14.4% during the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer's stock valued at $36,717,000 after acquiring an additional 18,462 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 1.1 %

Shares of Tesla stock traded up $1.75 during trading on Wednesday, hitting $168.38. 82,587,831 shares of the stock were exchanged, compared to its average volume of 102,260,461. The stock has a market cap of $536.26 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 4.06 and a beta of 2.39. The firm's 50-day moving average price is $184.80 and its 200 day moving average price is $218.91. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts' expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $1.07 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday. Sanford C. Bernstein cut their price target on shares of Tesla from $150.00 to $120.00 and set an "underperform" rating on the stock in a report on Tuesday, March 26th. TD Cowen cut their price target on shares of Tesla from $200.00 to $180.00 and set a "market perform" rating on the stock in a report on Thursday, January 25th. Robert W. Baird lowered their price objective on shares of Tesla from $300.00 to $280.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Guggenheim boosted their target price on shares of Tesla from $125.00 to $132.00 and gave the company a "sell" rating in a research report on Friday, December 15th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $202.00.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last ninety days. 25.10% of the stock is owned by corporate insiders.

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.