Essex Savings Bank Has $1.33 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Essex Savings Bank grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,300 shares of the electric vehicle producer’s stock after acquiring an additional 172 shares during the period. Essex Savings Bank’s holdings in Tesla were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new stake in Tesla in the 3rd quarter valued at about $29,000. Clean Yield Group grew its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter worth approximately $35,000. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $413.82 on Friday. The company has a market capitalization of $1.33 trillion, a PE ratio of 113.38, a P/E/G ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. 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 has a 50 day simple moving average of $385.50 and a two-hundred day simple moving average of $285.69.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 business 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 earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock valued at $213,451,751 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Wells Fargo & Company raised their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. UBS Group increased their price objective on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $299.33.

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.