Fulton Bank N.A. Has $10.45 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Fulton Bank N.A. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,865 shares of the electric vehicle producer’s stock after purchasing an additional 4,059 shares during the quarter. Fulton Bank N.A.’s holdings in Tesla were worth $10,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of Tesla by 39.9% during the 2nd quarter. Acadian Asset Management LLC now owns 61,681 shares of the electric vehicle producer’s stock valued at $12,202,000 after acquiring an additional 17,592 shares during the period. Cahill Financial Advisors Inc. increased its position in shares of Tesla by 14.8% during the second quarter. Cahill Financial Advisors Inc. now owns 1,485 shares of the electric vehicle producer’s stock valued at $294,000 after buying an additional 192 shares during the period. Global X Japan Co. Ltd. boosted its position in shares of Tesla by 114.0% in the second quarter. Global X Japan Co. Ltd. now owns 141,779 shares of the electric vehicle producer’s stock valued at $28,055,000 after acquiring an additional 75,526 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in Tesla by 20.6% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,041 shares of the electric vehicle producer’s stock valued at $3,174,000 after acquiring an additional 2,745 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in Tesla by 1.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 1,249,816 shares of the electric vehicle producer’s stock worth $247,314,000 after acquiring an additional 16,451 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on TSLA. Piper Sandler upped their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. HSBC reiterated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. The Goldman Sachs Group raised their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Nine research 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. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $295.69.

Tesla Stock Up 0.1 %

Tesla stock traded up $0.40 during trading hours on Wednesday, hitting $394.76. 45,954,637 shares of the stock traded hands, compared to its average volume of 81,939,539. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $1.27 trillion, a PE ratio of 108.15, a PEG ratio of 10.80 and a beta of 2.30. The firm’s 50-day moving average price is $368.03 and its two-hundred day moving average price is $277.49. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 firm 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 was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

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.