Truist Financial Corp Has $286.24 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Truist Financial Corp boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 708,797 shares of the electric vehicle producer's stock after purchasing an additional 16,985 shares during the quarter. Truist Financial Corp's holdings in Tesla were worth $286,241,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TSLA. Pittenger & Anderson Inc. lifted its position in shares of Tesla by 3.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the electric vehicle producer's stock valued at $631,000 after acquiring an additional 52 shares in the last quarter. Highview Capital Management LLC DE purchased a new stake in shares of Tesla in the fourth quarter valued at $2,367,000. NTV Asset Management LLC lifted its position in shares of Tesla by 17.9% in the fourth quarter. NTV Asset Management LLC now owns 5,248 shares of the electric vehicle producer's stock valued at $2,119,000 after acquiring an additional 798 shares in the last quarter. KLCM Advisors Inc. lifted its position in Tesla by 5.1% during the fourth quarter. KLCM Advisors Inc. now owns 6,875 shares of the electric vehicle producer's stock worth $2,776,000 after buying an additional 334 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its position in Tesla by 39.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 2,225 shares of the electric vehicle producer's stock worth $899,000 after buying an additional 630 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 523,386 shares of company stock worth $195,995,200. Company insiders own 20.70% of the company's stock.

Tesla Stock Down 4.7 %

Shares of NASDAQ:TSLA traded down $16.60 on Friday, reaching $337.80. The company had a trading volume of 73,720,762 shares, compared to its average volume of 75,434,742. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a 50-day moving average price of $402.14 and a 200 day moving average price of $311.43. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Phillip Securities lowered Tesla from a "moderate sell" rating to a "strong sell" rating in a research note on Wednesday, November 13th. Stifel Nicolaus lowered their price objective on Tesla from $492.00 to $474.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Piper Sandler raised their price objective on Tesla from $315.00 to $500.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group raised their price objective on Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a research note on Thursday, November 14th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $326.50.

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.