Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by United Bank

United Bank grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,322 shares of the electric vehicle producer’s stock after buying an additional 225 shares during the period. United Bank’s holdings in Tesla were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. boosted its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the 4th quarter worth $38,000. Cyrus J. Lawrence LLC purchased a new position in shares of Tesla in the 4th quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the fourth quarter valued at about $46,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSLA shares. Stifel Nicolaus lowered their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research note on Monday, March 17th. HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday. Wells Fargo & Company dropped their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $318.34.

Tesla Stock Performance

Tesla stock opened at $263.55 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm’s fifty day moving average price is $321.33 and its 200 day moving average price is $322.34. The company has a market capitalization of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Company 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.