Tesla, Inc. (NASDAQ:TSLA) Stake Increased by Zions Bancorporation N.A.

Zions Bancorporation N.A. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 83.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,937 shares of the electric vehicle producer's stock after buying an additional 7,255 shares during the period. Zions Bancorporation N.A.'s holdings in Tesla were worth $6,436,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. increased its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter worth approximately $38,000. Cyrus J. Lawrence LLC acquired a new position in Tesla during the fourth quarter worth $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla in the 4th quarter valued at $46,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 3.4 %

Tesla stock traded up $9.56 during midday trading on Tuesday, reaching $287.95. The stock had a trading volume of 148,758,365 shares, compared to its average volume of 91,639,279. The stock has a market capitalization of $926.20 billion, a PE ratio of 141.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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's 50-day simple moving average is $330.52 and its 200 day simple moving average is $322.04. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

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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 net margin of 7.26% and a return on equity of 10.31%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Roth Capital upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Roth Mkm upgraded shares of 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 research report on Monday, December 2nd. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a report on Wednesday, March 12th. Finally, The Goldman Sachs Group reaffirmed a "cautious" rating on shares of Tesla in a research note on Monday, March 3rd. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $318.93.

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.