Huntington National Bank Sells 102,283 Shares of Tesla, Inc. (NASDAQ:TSLA)

Huntington National Bank reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 34.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,224 shares of the electric vehicle producer's stock after selling 102,283 shares during the quarter. Huntington National Bank's holdings in Tesla were worth $50,815,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TSLA. China Universal Asset Management Co. Ltd. lifted its position in Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer's stock worth $6,399,000 after acquiring an additional 331 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in Tesla by 0.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 34,682 shares of the electric vehicle producer's stock valued at $6,097,000 after purchasing an additional 157 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Tesla by 12.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 77,359 shares of the electric vehicle producer's stock worth $13,599,000 after buying an additional 8,534 shares during the period. Private Portfolio Partners LLC lifted its holdings in Tesla by 21.0% in the 1st quarter. Private Portfolio Partners LLC now owns 2,077 shares of the electric vehicle producer's stock worth $365,000 after buying an additional 360 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in Tesla by 19.5% in the 1st quarter. Brighton Jones LLC now owns 72,529 shares of the electric vehicle producer's stock valued at $12,750,000 after buying an additional 11,826 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company's stock, valued at $1,868,508. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 over the last three months. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLA. Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They set a "peer perform" rating for the company. Stifel Nicolaus raised their price target on shares of Tesla from $265.00 to $287.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Bank of America raised their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price target on shares of Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $228.24.

Tesla Price Performance

Shares of Tesla stock traded down $12.41 during trading on Thursday, reaching $317.83. The company's stock had a trading volume of 68,073,398 shares, compared to its average volume of 95,706,148. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.02 trillion, a P/E ratio of 87.07, a price-to-earnings-growth ratio of 10.67 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The stock has a 50-day moving average price of $248.48 and a two-hundred day moving average price of $218.94.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal 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.