M&T Bank Corp Has $89.33 Million Position in Tesla, Inc. (NASDAQ:TSLA)

M&T Bank Corp grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 341,442 shares of the electric vehicle producer's stock after purchasing an additional 39,961 shares during the period. M&T Bank Corp's holdings in Tesla were worth $89,332,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLA. Family Firm Inc. bought a new stake in shares of Tesla during the 2nd quarter worth approximately $70,000. LRI Investments LLC increased its holdings in Tesla by 217.4% during the second quarter. LRI Investments LLC now owns 1,809 shares of the electric vehicle producer's stock worth $358,000 after buying an additional 1,239 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in Tesla by 0.7% during the second quarter. Atlantic Union Bankshares Corp now owns 13,649 shares of the electric vehicle producer's stock worth $2,701,000 after acquiring an additional 93 shares in the last quarter. Levy Wealth Management Group LLC lifted its stake in Tesla by 7.6% in the second quarter. Levy Wealth Management Group LLC now owns 6,547 shares of the electric vehicle producer's stock valued at $1,296,000 after acquiring an additional 460 shares during the last quarter. Finally, SNS Financial Group LLC grew its position in shares of Tesla by 1.8% in the 2nd quarter. SNS Financial Group LLC now owns 8,575 shares of the electric vehicle producer's stock valued at $1,697,000 after acquiring an additional 149 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $421.06 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock's 50-day simple moving average is $322.89 and its 200 day simple moving average is $255.91. The firm has a market capitalization of $1.35 trillion, a PE ratio of 115.36, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. On average, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. Morgan Stanley upped their target price on shares of Tesla from $310.00 to $400.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Roth Capital upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Guggenheim lifted their target price on Tesla from $156.00 to $175.00 and gave the stock a "sell" rating in a research note on Thursday, December 5th. StockNews.com upgraded Tesla from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, UBS Group lifted their price objective on shares of Tesla from $197.00 to $226.00 and gave the stock a "sell" rating in a research report on Monday, November 25th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $272.06.

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.