Zions Bancorporation N.A. Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Zions Bancorporation N.A. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 83.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,937 shares of the electric vehicle producer’s stock after buying an additional 7,255 shares during the period. Zions Bancorporation N.A.’s holdings in Tesla were worth $6,436,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. grew its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the 4th quarter valued at $38,000. Cyrus J. Lawrence LLC bought a new stake in shares of Tesla during the 4th quarter worth $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter worth about $46,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TSLA. Cantor Fitzgerald upgraded shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a report on Wednesday, March 19th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Morgan Stanley reduced their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a report on Friday. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Finally, Benchmark started coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target for the company. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $318.93.

Tesla Stock Up 11.9 %

TSLA 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. The business’s fifty day simple moving average is $332.69 and its 200 day simple moving average is $321.49. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $895.45 billion, a PE ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

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.