Huntington National Bank Has $50.82 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Huntington National Bank trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 34.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 194,224 shares of the electric vehicle producer’s stock after selling 102,283 shares during the period. Huntington National Bank’s holdings in Tesla were worth $50,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its position in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management lifted its holdings in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after purchasing an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in Tesla by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after purchasing an additional 3,909 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TSLA shares. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Wolfe Research started coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. The Goldman Sachs Group lifted their price target on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted 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. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $225.06.

Tesla Stock Performance

NASDAQ TSLA opened at $330.24 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $246.26 and its two-hundred day moving average price is $218.16. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 90.48, a price-to-earnings-growth ratio of 10.67 and a beta of 2.29.

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

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock valued at $57,616,781 over the last ninety days. 20.70% of the stock is currently owned by company 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.