Amalgamated Bank Has $170 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Amalgamated Bank trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 684,149 shares of the electric vehicle producer’s stock after selling 36,342 shares during the period. Tesla accounts for 1.4% of Amalgamated Bank’s portfolio, making the stock its 8th biggest position. Amalgamated Bank’s holdings in Tesla were worth $169,997,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. bought a new position in Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC boosted its stake in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. grew its position in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the period. Finally, Cordant Inc. purchased a new stake in shares of Tesla in the 3rd quarter worth $53,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Tesla Trading Up 0.4 %

TSLA traded up $0.75 during trading on Thursday, hitting $180.74. 82,596,189 shares of the stock were exchanged, compared to its average volume of 104,932,789. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a market cap of $576.42 billion, a price-to-earnings ratio of 45.57, a P/E/G ratio of 4.98 and a beta of 2.40. The firm has a 50 day simple moving average of $174.41 and a 200 day simple moving average of $206.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group cut their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, April 25th. KGI Securities reissued a “neutral” rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Canaccord Genuity Group cut their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Finally, Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $185.90.

Tesla 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.