FARMERS & MERCHANTS TRUST Co OF LONG BEACH Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,680 shares of the electric vehicle producer’s stock after acquiring an additional 50 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Tesla were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. boosted its stake in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 over the last quarter. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Truist Financial reiterated a “hold” rating and issued a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Cantor Fitzgerald increased their target price on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays raised their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler boosted their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $299.33.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Monday. The company has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a 50 day moving average of $389.94 and a two-hundred day moving average of $288.49.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current 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.