Intrust Bank NA Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Intrust Bank NA grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,806 shares of the electric vehicle producer’s stock after purchasing an additional 1,170 shares during the period. Intrust Bank NA’s holdings in Tesla were worth $4,768,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares in the last quarter. United Bank purchased a new position in Tesla in the 3rd quarter valued at approximately $287,000. Quantbot Technologies LP acquired a new position in Tesla during the third quarter worth $687,000. Glenmede Trust Co. NA boosted its position in Tesla by 34.1% during the third quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after purchasing an additional 12,955 shares in the last quarter. Finally, Fiduciary Trust Co grew its holdings in Tesla by 15.5% in the third quarter. Fiduciary Trust Co now owns 10,594 shares of the electric vehicle producer’s stock valued at $2,772,000 after purchasing an additional 1,425 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Guggenheim cut their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley lowered their target price on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Truist Financial raised their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada cut their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $318.34.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $263.55 on Friday. The stock has a market capitalization of $847.71 billion, a P/E ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. The business has a 50-day moving average of $321.33 and a two-hundred day moving average of $321.68. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by insiders.

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.