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

Trust Co. of Vermont lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the fourth quarter, HoldingsChannel reports. The firm owned 13,575 shares of the electric vehicle producer’s stock after selling 993 shares during the quarter. Trust Co. of Vermont’s holdings in Tesla were worth $5,482,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp grew its position in shares of Tesla by 2.8% in the second quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock valued at $1,256,000 after purchasing an additional 173 shares during the period. Pacer Advisors Inc. boosted its stake in Tesla by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock worth $57,337,000 after buying an additional 7,633 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Tesla by 62.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock valued at $4,015,000 after acquiring an additional 7,804 shares during the last quarter. Circle Wealth Management LLC lifted its holdings in shares of Tesla by 50.9% during the 2nd quarter. Circle Wealth Management LLC now owns 21,318 shares of the electric vehicle producer’s stock worth $4,218,000 after acquiring an additional 7,193 shares during the period. Finally, Holderness Investments Co. boosted its position in shares of Tesla by 10.0% in the second quarter. Holderness Investments Co. now owns 3,198 shares of the electric vehicle producer’s stock worth $633,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % 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, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TSLA shares. Canaccord Genuity Group increased their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Piper Sandler raised their price objective on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $299.33.

Tesla Trading Up 3.1 %

Shares of NASDAQ:TSLA opened at $426.50 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company’s 50-day moving average price is $389.94 and its 200 day moving average price is $288.49.

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

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.