Atlantic Union Bankshares Corp Has $3.54 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Atlantic Union Bankshares Corp cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,526 shares of the electric vehicle producer’s stock after selling 123 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Tesla were worth $3,539,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TSLA. Connable Office Inc. increased its position in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners increased its holdings in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares in the last quarter. Integris Wealth Management LLC raised its stake in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its holdings in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares in the last quarter. Finally, Altman Advisors Inc. boosted its position in shares of Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $231.06.

Tesla Price Performance

Tesla stock opened at $332.89 on Friday. The stock has a 50-day moving average price of $272.41 and a two-hundred day moving average price of $230.60. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93. 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 company has a market capitalization of $1.07 trillion, a PE ratio of 91.20, a P/E/G ratio of 10.81 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced 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. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by company insiders.

About Tesla

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.