Intrust Bank NA Acquires 1,170 Shares of Tesla, Inc. (NASDAQ:TSLA)

Intrust Bank NA boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.0% in the fourth quarter, Holdings Channel reports. The firm owned 11,806 shares of the electric vehicle producer’s stock after purchasing an additional 1,170 shares during the quarter. 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 institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares in the last quarter. United Bank bought a new stake in Tesla during the third quarter worth about $287,000. Quantbot Technologies LP acquired a new position in shares of Tesla in the 3rd quarter worth approximately $687,000. Glenmede Trust Co. NA grew its position in Tesla by 34.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after acquiring an additional 12,955 shares during the last quarter. Finally, Fiduciary Trust Co raised its position in Tesla by 15.5% in the 3rd 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 institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Nine equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $318.34.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $263.55 on Friday. The business has a fifty day moving average price of $321.33 and a two-hundred day moving average price of $321.68. The stock has a market capitalization of $847.71 billion, a PE ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. 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, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

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.