Fifth Third Bancorp Buys 19,724 Shares of Tesla, Inc. (NASDAQ:TSLA)

Fifth Third Bancorp grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 374,723 shares of the electric vehicle producer's stock after acquiring an additional 19,724 shares during the period. Fifth Third Bancorp's holdings in Tesla were worth $151,328,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TSLA. Geode Capital Management LLC grew its stake in Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC boosted its stake in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer's stock valued at $4,328,884,000 after acquiring an additional 301,968 shares during the period. Finally, Jennison Associates LLC boosted its stake in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer's stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday. Wells Fargo & Company lifted their target price on Tesla from $125.00 to $135.00 and gave the company an "underweight" rating in a research note on Thursday. Roth Mkm raised Tesla from a "neutral" rating to a "buy" rating and lifted their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Roth Capital raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Finally, StockNews.com raised Tesla from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $318.31.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,386 shares of company stock valued at $196,305,796 in the last quarter. Insiders own 20.70% of the company's stock.

Tesla Stock Up 1.1 %

Shares of TSLA stock traded up $4.32 on Friday, hitting $404.60. The company's stock had a trading volume of 83,010,540 shares, compared to its average volume of 75,492,578. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm's fifty day moving average price is $403.18 and its 200-day moving average price is $297.99. The stock has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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 10.54%. Research analysts anticipate that Tesla, Inc. will post 2.82 EPS for the current year.

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.