WASHINGTON TRUST Co Has $602,000 Position in Tesla, Inc. (NASDAQ:TSLA)

WASHINGTON TRUST Co grew its position in Tesla, Inc. (NASDAQ:TSLA) by 30.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,421 shares of the electric vehicle producer’s stock after buying an additional 559 shares during the quarter. WASHINGTON TRUST Co’s holdings in Tesla were worth $602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Axiom Financial Strategies LLC grew its holdings in Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after purchasing an additional 164,789 shares during the period. MAS Advisors LLC lifted its position in shares of Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after purchasing an additional 81 shares during the period. Ergoteles LLC lifted its position in shares of Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after purchasing an additional 893 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock valued at $36,952,434 over the last three months. Corporate insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TSLA shares. Robert W. Baird reiterated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $218.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday. Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays decreased their price objective on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a research note on Thursday, January 25th. Finally, Piper Sandler decreased their price objective on shares of Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 5th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $204.63.

Tesla Trading Down 1.6 %

Shares of TSLA traded down $2.93 during trading hours on Thursday, reaching $176.90. 56,466,275 shares of the company traded hands, compared to its average volume of 102,303,133. Tesla, Inc. has a 12 month low of $152.37 and a 12 month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average price is $188.49 and its two-hundred day moving average price is $222.36. The company has a market capitalization of $563.39 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 4.01 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 2.44 earnings per share 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.