WASHINGTON TRUST Co Purchases 559 Shares of Tesla, Inc. (NASDAQ:TSLA)

WASHINGTON TRUST Co raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 30.0% in the fourth quarter, Holdings Channel reports. The fund owned 2,421 shares of the electric vehicle producer’s stock after buying an additional 559 shares during the quarter. WASHINGTON TRUST Co’s holdings in Tesla were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. MidWestOne Financial Group Inc. increased its position in Tesla by 3.3% during the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares in the last quarter. City State Bank increased its position in Tesla by 3.3% during the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after purchasing an additional 40 shares in the last quarter. Marcum Wealth LLC increased its position in Tesla by 0.6% during the 3rd quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after purchasing an additional 41 shares in the last quarter. Linscomb & Williams Inc. increased 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 acquiring an additional 42 shares during the period. Finally, Investors Research Corp increased its position in Tesla by 5.5% in the 2nd quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer’s stock valued at $210,000 after acquiring an additional 42 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TSLA shares. KGI Securities restated a “neutral” rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Mizuho restated a “neutral” rating and issued a $195.00 price target (down from $270.00) on shares of Tesla in a research report on Monday. TD Cowen reduced their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Finally, Guggenheim upped their price objective on shares of Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research note on Friday, December 15th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $204.63.

Tesla Stock Performance

NASDAQ:TSLA traded down $2.93 during trading hours on Thursday, reaching $176.90. The stock had a trading volume of 56,466,275 shares, compared to its average volume of 102,303,133. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a 50 day simple moving average of $188.49 and a 200 day simple moving average of $222.36. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The stock has a market cap of $563.39 billion, a P/E ratio of 41.23, a price-to-earnings-growth ratio of 4.01 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,598 shares of company stock worth $36,952,434. 20.90% of the stock is owned by corporate insiders.

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.