Commerce Bank Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Commerce Bank boosted its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,139 shares of the electric vehicle producer’s stock after purchasing an additional 11,729 shares during the quarter. Commerce Bank’s holdings in Tesla were worth $40,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthPlan Investment Management LLC grew its position in Tesla by 20,641.9% during the third quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer’s stock valued at $3,218,000 after acquiring an additional 12,798 shares during the last quarter. NBC Securities Inc. bought a new position in Tesla during the third quarter valued at approximately $646,000. Breakwater Capital Group grew its position in Tesla by 12.7% during the third quarter. Breakwater Capital Group now owns 1,454 shares of the electric vehicle producer’s stock valued at $364,000 after acquiring an additional 164 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its position in Tesla by 3.4% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 7,623 shares of the electric vehicle producer’s stock valued at $1,907,000 after acquiring an additional 253 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Tesla by 7.2% in the third quarter. Los Angeles Capital Management LLC now owns 1,333,568 shares of the electric vehicle producer’s stock worth $333,685,000 after purchasing an additional 89,321 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. TD Cowen cut their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Canaccord Genuity Group dropped their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. China Renaissance initiated coverage on Tesla in a research note on Monday, February 26th. They issued a “hold” rating for the company. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $185.90.

View Our Latest Analysis on Tesla

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 209,097 shares of company stock worth $37,877,471 in the last three months. 25.10% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ TSLA traded up $5.10 during trading hours on Friday, hitting $178.84. The company’s stock had a trading volume of 40,700,651 shares, compared to its average volume of 100,279,859. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company’s 50 day simple moving average is $171.38 and its two-hundred day simple moving average is $201.55. The company has a market cap of $570.36 billion, a P/E ratio of 45.53, a price-to-earnings-growth ratio of 4.42 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, sell-side analysts expect that Tesla, Inc. will post 1.89 EPS for the current fiscal year.

About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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