Tesla, Inc. (NASDAQ:TSLA) Position Lowered by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,202 shares of the electric vehicle producer’s stock after selling 310 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Tesla were worth $315,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. MidWestOne Financial Group Inc. boosted its holdings in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after acquiring an additional 15 shares during the period. Linscomb & Williams Inc. lifted its position in Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after purchasing an additional 42 shares during the last quarter. Indiana Trust & Investment Management CO boosted its stake in Tesla by 1.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,998 shares of the electric vehicle producer’s stock valued at $785,000 after purchasing an additional 45 shares during the period. Salem Investment Counselors Inc. grew its position in Tesla by 22.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock worth $283,000 after purchasing an additional 48 shares during the last quarter. Finally, Johnson Bixby & Associates LLC increased its stake in shares of Tesla by 2.1% in the first quarter. Johnson Bixby & Associates LLC now owns 2,769 shares of the electric vehicle producer’s stock valued at $574,000 after purchasing an additional 56 shares during the period. Institutional investors own 41.87% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $274.39 on Friday. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $313.80. The company has a market cap of $870.91 billion, a price-to-earnings ratio of 77.73, a PEG ratio of 4.30 and a beta of 2.09. The business has a 50 day moving average price of $255.83 and a 200 day moving average price of $220.11. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The business had revenue of $24.93 billion during the quarter, compared to analyst estimates of $24.22 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. UBS Group began coverage on Tesla in a research report on Tuesday. They issued a “neutral” rating and a $290.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a research report on Monday, July 17th. TD Cowen upped their price target on shares of Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, July 20th. Mizuho boosted their target price on Tesla from $300.00 to $330.00 in a report on Thursday, July 20th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $150.00 price target on shares of Tesla in a research note on Thursday, July 20th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $239.43.

Insider Activity

In related news, CAO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $278.36, for a total value of $1,113,440.00. Following the sale, the chief accounting officer now owns 104,504 shares of the company’s stock, valued at $29,089,733.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the transaction, the chief financial officer now directly owns 197,540 shares of the company’s stock, valued at $55,054,398. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $278.36, for a total transaction of $1,113,440.00. Following the completion of the sale, the chief accounting officer now directly owns 104,504 shares in the company, valued at approximately $29,089,733.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,815 shares of company stock worth $14,384,135. 25.10% of the stock is currently owned by corporate insiders.

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. It 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, retail merchandise, and vehicle insurance services.