First National Bank of Mount Dora Trust Investment Services Invests $229,000 in Tesla, Inc. (NASDAQ:TSLA)

First National Bank of Mount Dora Trust Investment Services purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 875 shares of the electric vehicle producer’s stock, valued at approximately $229,000.

Several other hedge funds have also recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the last quarter. Gladstone Institutional Advisory LLC increased its stake in shares of Tesla by 6.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after acquiring an additional 2,664 shares during the period. Morse Asset Management Inc increased its stake in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after acquiring an additional 3,462 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after acquiring an additional 1,059 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on TSLA shares. The Goldman Sachs Group raised their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Barclays raised their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Phillip Securities upgraded shares of Tesla to a “moderate sell” rating in a research report on Friday, October 25th. Finally, Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $219.45.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock worth $3,065,866 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.3 %

Tesla stock traded down $0.87 during midday trading on Monday, hitting $248.11. 29,314,993 shares of the stock were exchanged, compared to its average volume of 93,862,039. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.54. The stock has a market capitalization of $796.45 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 8.24 and a beta of 2.29. The stock’s 50-day simple moving average is $234.14 and its 200 day simple moving average is $211.15. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the business earned $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 1.96 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.