Stonebridge Capital Advisors LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Stonebridge Capital Advisors LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,318 shares of the electric vehicle producer’s stock after buying an additional 103 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Tesla were worth $232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Vanguard Group Inc. grew its position in Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Norges Bank bought a new position in Tesla in the 4th quarter valued at $7,844,757,000. Charles Schwab Investment Management Inc. grew its position in shares of Tesla by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after buying an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $0.45 during trading on Friday, hitting $219.80. The stock had a trading volume of 94,604,145 shares, compared to its average volume of 132,509,544. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The stock has a market capitalization of $702.18 billion, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 5.50 and a beta of 2.31. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $205.68 and a two-hundred day simple moving average of $191.23.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TSLA shares. Glj Research increased their price target on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a research report on Tuesday. Jefferies Financial Group dropped their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Wednesday, April 24th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research report on Wednesday. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, July 16th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $204.30.

About Tesla

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.