Sandy Spring Bank Has $3.14 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sandy Spring Bank increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,770 shares of the electric vehicle producer’s stock after purchasing an additional 280 shares during the period. Sandy Spring Bank’s holdings in Tesla were worth $3,138,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TSLA. Strategic Financial Concepts LLC raised its holdings in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Proficio Capital Partners LLC grew its position in shares of Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after purchasing an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $236.26 on Friday. The stock’s 50 day moving average is $338.11 and its 200 day moving average is $319.44. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market cap of $759.93 billion, a P/E ratio of 115.81, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TSLA shares. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Barclays lifted their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target on the stock in a research report on Wednesday. Mizuho dropped their price objective on Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday. Finally, TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $319.56.

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.