Amalgamated Bank Sells 7,491 Shares of Tesla, Inc. (NASDAQ:TSLA)

Amalgamated Bank cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 575,891 shares of the electric vehicle producer’s stock after selling 7,491 shares during the period. Tesla makes up approximately 1.9% of Amalgamated Bank’s holdings, making the stock its 7th biggest position. Amalgamated Bank’s holdings in Tesla were worth $232,568,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the last quarter. FMR LLC raised its position in shares of Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC increased its stake in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of Tesla stock opened at $281.95 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $387.91 and a 200-day simple moving average of $315.28. The stock has a market capitalization of $906.90 billion, a price-to-earnings ratio of 138.21, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 in the last 90 days. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Wells Fargo & Company upped their price target on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Barclays lifted their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $319.57.

Tesla 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.