NBT Bank N A NY Buys 1,338 Shares of Tesla, Inc. $TSLA

NBT Bank N A NY lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 93.7% during the first quarter, HoldingsChannel reports. The firm owned 2,766 shares of the electric vehicle producer’s stock after acquiring an additional 1,338 shares during the quarter. NBT Bank N A NY’s holdings in Tesla were worth $1,028,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after acquiring an additional 6,538,720 shares during the period. State Street Corp grew its holdings in Tesla by 0.9% during the fourth quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock worth $51,647,164,000 after purchasing an additional 1,080,085 shares during the period. Geode Capital Management LLC increased its position in Tesla by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after buying an additional 375,946 shares during the last quarter. Capital World Investors lifted its position in shares of Tesla by 5.8% in the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after buying an additional 2,403,019 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Tesla during the 4th quarter worth approximately $17,128,100,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Tesla in a report on Tuesday, April 21st. Guggenheim started coverage on shares of Tesla in a research note on Monday, June 29th. They set a “neutral” rating for the company. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Thursday, June 11th. Evercore upgraded shares of Tesla from a “hold” rating to an “outperform” rating in a research report on Friday, June 5th. Finally, HSBC reiterated a “hold” rating on shares of Tesla in a research note on Monday, June 15th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $403.92.

Read Our Latest Stock Report on TSLA

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This represents a 35.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This represents a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,015 shares of company stock worth $12,383,640 over the last three months. 19.90% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $393.45 on Monday. The company has a market cap of $1.48 trillion, a price-to-earnings ratio of 360.96, a PEG ratio of 15.61 and a beta of 1.80. Tesla, Inc. has a fifty-two week low of $288.77 and a fifty-two week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The stock has a fifty day moving average price of $407.39 and a 200-day moving average price of $411.34.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. Tesla’s revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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