Cadence Bank Sells 976 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cadence Bank lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 50.5% during the third quarter, Holdings Channel.com reports. The firm owned 957 shares of the electric vehicle producer’s stock after selling 976 shares during the period. Cadence Bank’s holdings in Tesla were worth $250,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TSLA. LRI Investments LLC bought a new stake in shares of Tesla during the first quarter worth about $100,000. Burney Co. lifted its holdings in shares of Tesla by 187.1% in the first quarter. Burney Co. now owns 17,061 shares of the electric vehicle producer’s stock valued at $2,999,000 after purchasing an additional 11,118 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in shares of Tesla by 5.7% during the first quarter. Soltis Investment Advisors LLC now owns 10,626 shares of the electric vehicle producer’s stock valued at $1,868,000 after buying an additional 576 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in Tesla in the 1st quarter valued at $77,000. Finally, Westwood Holdings Group Inc. lifted its stake in Tesla by 466.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock valued at $2,777,000 after acquiring an additional 13,012 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Barclays increased their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Jefferies Financial Group boosted their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $231.06.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock valued at $92,956,692 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.6 %

Shares of TSLA opened at $332.89 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The firm has a 50 day moving average price of $272.41 and a 200-day moving average price of $230.60. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 91.20, a PEG ratio of 10.81 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly 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. The business had revenue of $25.18 billion during 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 business posted $0.53 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.