Enterprise Bank & Trust Co Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Enterprise Bank & Trust Co cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,244 shares of the electric vehicle producer’s stock after selling 77 shares during the period. Enterprise Bank & Trust Co’s holdings in Tesla were worth $502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its stake in shares of Tesla by 112.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,857 shares of the electric vehicle producer’s stock worth $7,095,000 after buying an additional 18,953 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Tesla by 20.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,101,923 shares of the electric vehicle producer’s stock valued at $218,048,000 after purchasing an additional 185,335 shares in the last quarter. Inspire Advisors LLC increased its stake in Tesla by 23.4% in the 2nd quarter. Inspire Advisors LLC now owns 2,012 shares of the electric vehicle producer’s stock valued at $398,000 after purchasing an additional 382 shares in the last quarter. Williams Financial LLC purchased a new position in Tesla in the 2nd quarter valued at approximately $2,867,000. Finally, Seven Mile Advisory increased its stake in Tesla by 23.6% in the 2nd quarter. Seven Mile Advisory now owns 2,557 shares of the electric vehicle producer’s stock valued at $506,000 after purchasing an additional 489 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 0.1 %

Shares of NASDAQ TSLA traded down $0.59 during midday trading on Monday, reaching $394.15. 52,206,493 shares of the company’s stock were exchanged, compared to its average volume of 79,029,883. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $1.27 trillion, a PE ratio of 107.99, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business’s fifty day moving average price is $376.60 and its two-hundred day moving average price is $281.84.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on TSLA shares. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Guggenheim increased their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group increased their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $296.60.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by insiders.

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.