Country Club Bank Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Country Club Bank reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,016 shares of the electric vehicle producer’s stock after selling 314 shares during the quarter. Country Club Bank’s holdings in Tesla were worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kathmere Capital Management LLC grew its position in shares of Tesla by 9.2% during the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after purchasing an additional 99 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in Tesla by 4.3% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock valued at $260,000 after buying an additional 67 shares in the last quarter. Romano Brothers AND Company increased its stake in Tesla by 3.8% in the 1st quarter. Romano Brothers AND Company now owns 2,479 shares of the electric vehicle producer’s stock worth $436,000 after acquiring an additional 90 shares during the last quarter. Gibson Capital LLC purchased a new stake in shares of Tesla during the 1st quarter worth approximately $192,000. Finally, Foguth Wealth Management LLC. bought a new position in shares of Tesla during the 1st quarter valued at approximately $3,413,000. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was 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 approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Tesla Price Performance

Shares of TSLA opened at $269.19 on Friday. The company has a 50 day moving average of $229.47 and a two-hundred day moving average of $206.79. The company has a market cap of $858.50 billion, a price-to-earnings ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

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, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TSLA shares. Stifel Nicolaus upped their price target on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group boosted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday. Finally, Canaccord Genuity Group raised their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $219.00.

Tesla Company 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.