Enterprise Bank & Trust Co Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Enterprise Bank & Trust Co lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,260 shares of the electric vehicle producer’s stock after selling 134 shares during the period. Enterprise Bank & Trust Co’s holdings in Tesla were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the period. State Street Corp increased its position in shares of Tesla by 4.4% during the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after purchasing an additional 4,431,570 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tesla by 3.2% during the second quarter. Geode Capital Management LLC now owns 51,656,526 shares of the electric vehicle producer’s stock worth $13,484,212,000 after purchasing an additional 1,608,559 shares in the last quarter. Morgan Stanley increased its position in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, FMR LLC increased its position in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Price Performance

TSLA stock traded up $1.07 during mid-day trading on Friday, reaching $163.57. The company’s stock had a trading volume of 97,146,832 shares, compared to its average volume of 105,745,563. The stock has a market cap of $520.94 billion, a PE ratio of 37.95, a P/E/G ratio of 3.81 and a beta of 2.41. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The company’s 50 day moving average is $196.08 and its two-hundred day moving average is $226.39.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. Equities research analysts expect that Tesla, Inc. will post 2.45 EPS for the current year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 198,598 shares of company stock worth $36,952,434 in the last 90 days. Insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Thursday, January 25th. Wedbush reissued an “outperform” rating and issued a $315.00 target price on shares of Tesla in a research report on Wednesday, January 31st. Truist Financial cut their target price on Tesla from $227.00 to $193.00 and set a “hold” rating on the stock in a research report on Thursday, January 25th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, January 2nd. Finally, Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and cut their target price for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $213.04.

Read Our Latest Stock Analysis on Tesla

Tesla Profile

(Free Report)

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.

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