Zions Bancorporation N.A. Buys 1,715 Shares of Tesla, Inc. (NASDAQ:TSLA)

Zions Bancorporation N.A. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,682 shares of the electric vehicle producer's stock after acquiring an additional 1,715 shares during the quarter. Zions Bancorporation N.A.'s holdings in Tesla were worth $2,271,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter valued at approximately $29,000. Finally, Clean Yield Group increased its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Roth Mkm reaffirmed a "neutral" rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. StockNews.com raised shares of Tesla from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Wedbush boosted their price objective on shares of Tesla from $300.00 to $400.00 and gave the stock an "outperform" rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Tesla from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Finally, Bank of America boosted their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $230.18.

Tesla Stock Performance

Shares of TSLA stock traded up $9.54 during trading hours on Friday, reaching $320.72. The company had a trading volume of 114,160,487 shares, compared to its average volume of 96,026,047. The business has a fifty day moving average price of $250.10 and a 200-day moving average price of $219.58. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The firm has a market cap of $1.03 trillion, a PE ratio of 87.49, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.53 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is owned by company insiders.

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.