Kennebec Savings Bank Has $651,000 Stake in Tesla, Inc. $TSLA

Kennebec Savings Bank grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,048 shares of the electric vehicle producer’s stock after acquiring an additional 38 shares during the quarter. Kennebec Savings Bank’s holdings in Tesla were worth $651,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TSLA. Brighton Jones LLC raised its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC raised its stake in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Tesla by 3.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,605 shares of the electric vehicle producer’s stock worth $1,193,000 after acquiring an additional 165 shares in the last quarter. Finally, Beacon Financial Group raised its stake in Tesla by 28.4% during the first quarter. Beacon Financial Group now owns 2,173 shares of the electric vehicle producer’s stock worth $563,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $429.83 on Friday. The business’s 50 day simple moving average is $364.02 and its 200 day simple moving average is $321.39. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a PEG ratio of 15.15 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Piper Sandler boosted their price target on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. The Goldman Sachs Group boosted their price target on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday. Argus restated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a report on Saturday, September 27th. Finally, Dbs Bank boosted their price target on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $343.43.

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.