Whittier Trust Co. Acquires 41,576 Shares of Tesla, Inc. (NASDAQ:TSLA)

Whittier Trust Co. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 123.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,220 shares of the electric vehicle producer's stock after purchasing an additional 41,576 shares during the period. Whittier Trust Co.'s holdings in Tesla were worth $30,376,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TSLA. Swedbank AB increased its stake in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer's stock worth $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank bought a new position in Tesla in the 3rd quarter valued at about $287,000. SouthState Corp lifted its position in Tesla by 11.0% during the third quarter. SouthState Corp now owns 2,989 shares of the electric vehicle producer's stock worth $782,000 after acquiring an additional 297 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Tesla by 12.7% in the third quarter. PNC Financial Services Group Inc. now owns 468,774 shares of the electric vehicle producer's stock valued at $122,645,000 after purchasing an additional 52,974 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on TSLA shares. Morgan Stanley dropped their price target on Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a report on Friday. New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Wedbush reaffirmed an "outperform" rating and set a $550.00 price target on shares of Tesla in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, StockNews.com lowered shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $318.93.

Tesla Price Performance

Shares of TSLA traded up $12.45 during mid-day trading on Friday, reaching $248.71. The company had a trading volume of 132,093,084 shares, compared to its average volume of 91,269,538. The company's 50 day simple moving average is $335.19 and its 200 day simple moving average is $321.15. Tesla, Inc. has a 1-year low of $138.80 and a 1-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 company has a market capitalization of $799.98 billion, a price-to-earnings ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,672 shares of the business's 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 transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The shares were 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 owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last ninety days. Company 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.