First National Trust Co Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

First National Trust Co grew its stake in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 200.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,091 shares of the electric vehicle producer’s stock after buying an additional 30,086 shares during the quarter. First National Trust Co’s holdings in Tesla were worth $11,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in Tesla by 200.2% in the 3rd quarter. Jennison Associates LLC now owns 29,557,607 shares of the electric vehicle producer’s stock worth $7,840,155,000 after acquiring an additional 19,711,687 shares during the last quarter. Baillie Gifford & Co. lifted its position in Tesla by 196.4% during the 3rd quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock valued at $7,394,330,000 after acquiring an additional 18,472,529 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Tesla by 10.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock valued at $9,584,845,000 after acquiring an additional 1,317,687 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Tesla by 189.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock valued at $2,484,549,000 after acquiring an additional 6,125,732 shares during the period. Finally, Northern Trust Corp lifted its position in Tesla by 2.5% during the 1st quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock valued at $9,455,380,000 after acquiring an additional 216,282 shares during the period. Institutional investors own 43.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer cut shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, December 19th. Canaccord Genuity Group cut their target price on shares of Tesla from $304.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, December 22nd. Royal Bank of Canada dropped their price target on shares of Tesla from $225.00 to $186.00 in a research report on Tuesday, January 3rd. Wolfe Research dropped their price target on shares of Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Finally, Mizuho lowered their target price on shares of Tesla from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, January 5th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $216.60.

Tesla Stock Up 0.1 %

TSLA opened at $143.89 on Wednesday. The business’s fifty day simple moving average is $148.77 and its 200 day simple moving average is $220.41. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $384.29. The firm has a market cap of $454.37 billion, a P/E ratio of 44.46, a PEG ratio of 1.18 and a beta of 2.02. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the transaction, the senior vice president now directly owns 62,988 shares in the company, valued at $14,484,090.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Vaibhav Taneja sold 3,768 shares of the firm’s stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $670,967.76. Following the transaction, the chief accounting officer now directly owns 95,785 shares in the company, valued at approximately $17,056,434.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the transaction, the senior vice president now owns 62,988 shares in the company, valued at $14,484,090.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is owned by company insiders.

Tesla Profile

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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.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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