Webster Bank N. A. Trims Stake in Tesla, Inc. $TSLA

Webster Bank N. A. decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 26.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,588 shares of the electric vehicle producer’s stock after selling 2,393 shares during the period. Webster Bank N. A.’s holdings in Tesla were worth $2,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in shares of Tesla in the second quarter valued at approximately $11,839,824,000. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares during the last quarter. Amundi increased its stake in shares of Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after acquiring an additional 3,422,270 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after acquiring an additional 1,269,304 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TSLA shares. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Bank of America upped their price target on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Roth Capital set a $505.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Mizuho increased their price objective on shares of Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Finally, Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Tesla in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $408.54.

Check Out Our Latest Stock Report on Tesla

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the transaction, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. The trade was a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 119,457 shares of company stock worth $53,501,145 in the last ninety days. 19.90% of the stock is owned by insiders.

Trending Headlines about Tesla

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Tesla Stock Performance

Shares of TSLA stock opened at $445.01 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company’s fifty day moving average price is $444.28 and its two-hundred day moving average price is $395.60. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 296.67, a P/E/G ratio of 7.40 and a beta of 1.83. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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