Trust Co. of Vermont Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Trust Co. of Vermont decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,568 shares of the electric vehicle producer’s stock after selling 296 shares during the period. Trust Co. of Vermont’s holdings in Tesla were worth $3,811,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Marshall Financial Group LLC grew its position in shares of Tesla by 3.7% in the 3rd quarter. Marshall Financial Group LLC now owns 2,546 shares of the electric vehicle producer’s stock worth $666,000 after buying an additional 92 shares during the last quarter. Teamwork Financial Advisors LLC grew its position in shares of Tesla by 9.1% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 32,241 shares of the electric vehicle producer’s stock worth $8,435,000 after buying an additional 2,693 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of Tesla by 9.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 72,087 shares of the electric vehicle producer’s stock worth $18,860,000 after buying an additional 6,042 shares during the last quarter. Riversedge Advisors LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $207,000. Finally, Global Retirement Partners LLC grew its position in shares of Tesla by 16.1% in the 3rd quarter. Global Retirement Partners LLC now owns 67,704 shares of the electric vehicle producer’s stock worth $17,713,000 after buying an additional 9,404 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $220.89 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The firm has a market capitalization of $705.66 billion, a price-to-earnings ratio of 62.05, a PEG ratio of 5.94 and a beta of 2.29. The company has a fifty day simple moving average of $227.25 and a 200-day simple moving average of $204.80. 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 (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the company earned $0.78 EPS. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Monday, October 7th. Mizuho lifted their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Wolfe Research assumed coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada lifted their price objective on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $210.72.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on 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 owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.