AMG National Trust Bank Has $1.08 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

AMG National Trust Bank decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 87.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,142 shares of the electric vehicle producer's stock after selling 28,721 shares during the period. AMG National Trust Bank's holdings in Tesla were worth $1,084,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Oppenheimer & Co. Inc. raised its position in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock worth $37,801,000 after acquiring an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management lifted its position in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer's stock worth $2,466,000 after purchasing an additional 4,929 shares in the last quarter. Savvy Advisors Inc. lifted its position in shares of Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer's stock worth $1,969,000 after purchasing an additional 1,467 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Tesla by 19.0% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer's stock worth $6,394,000 after purchasing an additional 3,909 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Argus reiterated a "buy" rating and set a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an "outperform" rating for the company. Sanford C. Bernstein reaffirmed an "underperform" rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Wedbush reissued an "outperform" rating and issued a $400.00 price target on shares of Tesla in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus target price of $230.18.

Tesla Stock Down 1.1 %

Shares of TSLA traded down $3.97 during midday trading on Wednesday, hitting $342.03. The company had a trading volume of 65,947,695 shares, compared to its average volume of 95,997,781. The company's 50 day moving average price is $257.14 and its 200 day moving average price is $223.29. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 92.86, a PEG ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the business posted $0.53 EPS. Tesla's revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 over the last 90 days. 20.70% of the stock is owned by company 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. 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.