Cape ANN Savings Bank Has $705,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cape ANN Savings Bank lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,746 shares of the electric vehicle producer’s stock after buying an additional 49 shares during the quarter. Cape ANN Savings Bank’s holdings in Tesla were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the fourth quarter worth $46,000. PayPay Securities Corp raised its stake in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 4.0 %

Shares of NASDAQ TSLA opened at $290.80 on Thursday. The company’s 50 day simple moving average is $390.99 and its 200 day simple moving average is $315.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $935.36 billion, a P/E ratio of 142.55, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and increased their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Stifel Nicolaus reduced their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Evercore ISI upped their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Finally, Truist Financial increased their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $319.57.

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.