First National Bank of Hutchinson Takes Position in Tesla, Inc. (NASDAQ:TSLA)

First National Bank of Hutchinson bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 546 shares of the electric vehicle producer’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the 4th quarter valued at about $46,000. Parkworth Wealth Management Inc. acquired a new position in Tesla during the fourth quarter valued at approximately $47,000. PayPay Securities Corp grew its stake in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the fourth quarter worth $55,000. Finally, Finley Financial LLC acquired a new position in shares of Tesla during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target for the company in a report on Wednesday. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Wedbush restated an “outperform” rating and issued a $550.00 price target on shares of Tesla in a report on Friday, March 7th. Truist Financial lifted 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. Finally, Barclays upped their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $321.12.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $235.86 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $341.28 and its two-hundred day moving average is $320.02. The firm has a market capitalization of $758.65 billion, a P/E ratio of 115.62, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

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

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.