CNB Bank Has $3.44 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

CNB Bank decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,521 shares of the electric vehicle producer’s stock after selling 521 shares during the period. Tesla accounts for approximately 1.6% of CNB Bank’s holdings, making the stock its 12th biggest holding. CNB Bank’s holdings in Tesla were worth $3,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Acropolis Investment Management LLC raised its position in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its position in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares in the last quarter. Connable Office Inc. increased its position in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares in the last quarter. Community Bank N.A. increased its position in Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after buying an additional 38 shares in the last quarter. Finally, Holistic Financial Partners increased its position in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Morgan Stanley raised their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Robert W. Baird increased their target price on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada increased their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $299.33.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated 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 of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value 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 approximately $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $426.50 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $389.94 and its two-hundred day simple moving average is $288.09. The stock has a market cap of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Tesla 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.