FineMark National Bank & Trust Has $4.82 Million Position in Tesla, Inc. (NASDAQ:TSLA)

FineMark National Bank & Trust lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,931 shares of the electric vehicle producer’s stock after acquiring an additional 372 shares during the quarter. FineMark National Bank & Trust’s holdings in Tesla were worth $4,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Tesla by 5.6% in the 3rd 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 during the period. United Bank bought a new stake in Tesla during the 3rd quarter valued at $287,000. Massachusetts Financial Services Co. MA raised its holdings in Tesla by 61.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock worth $30,151,000 after buying an additional 43,950 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Tesla by 21.6% during the third quarter. Eagle Asset Management Inc. now owns 31,232 shares of the electric vehicle producer’s stock valued at $8,171,000 after buying an additional 5,545 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of Tesla during the third quarter worth about $3,194,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated 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 transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of analyst reports. Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. UBS Group decreased their price objective on shares of Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Evercore ISI lifted their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley lowered their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $318.93.

Tesla Stock Performance

Shares of TSLA stock opened at $278.39 on Tuesday. 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, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market capitalization of $895.45 billion, a PE ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a 50 day moving average price of $332.69 and a 200-day moving average price of $321.49.

Tesla (NASDAQ:TSLA) last released 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.