Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Webster Bank N. A.

Webster Bank N. A. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,745 shares of the electric vehicle producer’s stock after acquiring an additional 384 shares during the period. Webster Bank N. A.’s holdings in Tesla were worth $2,526,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TSLA. Norges Bank acquired a new stake in Tesla in the fourth quarter valued at $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft cut their price target on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Benchmark reiterated a “buy” rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Piper Sandler set a $400.00 target price on Tesla in a research report on Tuesday, May 6th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $293.97.

Tesla Trading Up 0.4%

Shares of Tesla stock opened at $358.43 on Friday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a market cap of $1.15 trillion, a PE ratio of 175.70, a P/E/G ratio of 5.86 and a beta of 2.43. The business’s fifty day moving average is $285.70 and its two-hundred day moving average is $333.80. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock valued at $320,019,942 in the last quarter. 20.70% of the stock is currently owned by company insiders.

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.