Commerce Bank Has $51.72 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Commerce Bank lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,069 shares of the electric vehicle producer's stock after selling 6,970 shares during the period. Commerce Bank's holdings in Tesla were worth $51,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hengehold Capital Management LLC lifted its position in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI increased its stake in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC raised its holdings in Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock valued at $1,136,000 after buying an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its position in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after buying an additional 25 shares during the period. Finally, Vista Finance LLC grew its holdings in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of Tesla stock opened at $241.17 on Friday. The stock's fifty day moving average is $275.67 and its 200 day moving average is $322.33. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $775.71 billion, a P/E ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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%. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last three months. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Truist Financial lowered their price objective on shares of Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. New Street Research upgraded Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and raised their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Benchmark reduced their price objective on shares of Tesla from $475.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $292.18.

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.

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