Whittier Trust Co. of Nevada Inc. Grows Stock Position in Tesla, Inc. $TSLA

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 9.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 66,168 shares of the electric vehicle producer’s stock after buying an additional 5,650 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Tesla were worth $28,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Geode Capital Management LLC raised its position in Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. Norges Bank purchased a new stake in Tesla in the 2nd quarter worth approximately $11,839,824,000. Legal & General Group Plc grew its position in shares of Tesla by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after buying an additional 1,134,678 shares during the last quarter. Finally, Amundi increased its stake in shares of Tesla by 20.4% during the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after buying an additional 3,422,270 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 0.1%

Shares of NASDAQ:TSLA opened at $434.85 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83. The company has a market cap of $1.45 trillion, a P/E ratio of 290.57, a PEG ratio of 7.63 and a beta of 1.83. The stock’s fifty day moving average price is $445.33 and its 200-day moving average price is $405.63.

More Tesla News

Here are the key news stories impacting Tesla this week:

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Mizuho raised their target price on shares of Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. New Street Research raised their price objective on shares of Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Barclays reiterated a “neutral” rating on shares of Tesla in a report on Friday. Glj Research reaffirmed a “sell” rating and issued a $25.28 price target (up from $19.05) on shares of Tesla in a research note on Wednesday, January 7th. Finally, Morgan Stanley restated a “positive” rating on shares of Tesla in a report on Thursday. Eighteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $410.77.

Get Our Latest Research Report on TSLA

Insider Activity

In related news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the sale, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,457 shares of company stock valued at $53,501,145 in the last 90 days. 19.90% of the stock is currently owned by insiders.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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