Amalgamated Bank Sells 12,040 Shares of Tesla, Inc. (NASDAQ:TSLA)

Amalgamated Bank lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 583,382 shares of the electric vehicle producer’s stock after selling 12,040 shares during the quarter. Tesla makes up approximately 1.3% of Amalgamated Bank’s portfolio, making the stock its 11th biggest holding. Amalgamated Bank’s holdings in Tesla were worth $152,630,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter valued at $25,000. Clean Yield Group raised its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter valued at $26,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,297 shares of company stock worth $4,072,906. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Piper Sandler boosted their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Guggenheim upped their target price on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $219.45.

Tesla Price Performance

TSLA stock opened at $242.84 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The firm has a market capitalization of $779.53 billion, a price-to-earnings ratio of 66.53, a PEG ratio of 8.21 and a beta of 2.29. The firm has a 50 day moving average price of $234.73 and a 200-day moving average price of $211.81.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Tesla Company 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.