Trust Co. of Toledo NA OH Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Trust Co. of Toledo NA OH lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,063 shares of the electric vehicle producer’s stock after selling 186 shares during the period. Trust Co. of Toledo NA OH’s holdings in Tesla were worth $1,237,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its position in 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 acquiring an additional 18,953 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings 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 worth $218,048,000 after buying an additional 185,335 shares in the last quarter. Inspire Advisors LLC boosted its position 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 buying an additional 382 shares during the last quarter. Williams Financial LLC purchased a new stake in shares of Tesla during the second quarter worth about $2,867,000. Finally, Seven Mile Advisory lifted its stake in shares of Tesla by 23.6% in the second quarter. Seven Mile Advisory now owns 2,557 shares of the electric vehicle producer’s stock worth $506,000 after acquiring an additional 489 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 over the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $2.38 during trading hours on Monday, hitting $392.36. 25,389,224 shares of the company’s stock traded hands, compared to its average volume of 74,563,750. 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 company’s fifty day simple moving average is $376.60 and its two-hundred day simple moving average is $281.84. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market cap of $1.26 trillion, a price-to-earnings ratio of 107.50, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

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

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group upped their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company lifted their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Truist Financial reaffirmed a “hold” rating and set a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Finally, UBS Group boosted their price target on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $296.60.

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.