Fulton Bank N.A. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Fulton Bank N.A. increased its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 18.6% during the 4th quarter, HoldingsChannel reports. The firm owned 25,865 shares of the electric vehicle producer’s stock after buying an additional 4,059 shares during the period. Fulton Bank N.A.’s holdings in Tesla were worth $10,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group grew its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% during 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 during the period. Valley Wealth Managers Inc. purchased a new stake in Tesla during the second quarter valued at approximately $26,000. Finally, Peterson Financial Group Inc. bought a new position in Tesla in the third quarter worth approximately $35,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.1 %

Shares of NASDAQ:TSLA traded up $0.40 on Wednesday, hitting $394.76. 45,954,637 shares of the company’s stock were exchanged, compared to its average volume of 81,939,539. The business’s 50 day simple moving average is $368.03 and its two-hundred day simple moving average is $277.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.15, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

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

Analysts Set New Price Targets

Several research firms recently weighed in on TSLA. Truist Financial reiterated a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. UBS Group boosted their price objective on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Royal Bank of Canada raised their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $295.69.

Read Our Latest Report on TSLA

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock valued at $169,393,831 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Profile

(Free Report)

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.

Further Reading

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