Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by M&T Bank Corp

M&T Bank Corp lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,442 shares of the electric vehicle producer’s stock after purchasing an additional 39,961 shares during the period. M&T Bank Corp’s holdings in Tesla were worth $89,332,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $389.79 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $404.80. The stock has a market cap of $1.25 trillion, a price-to-earnings ratio of 106.79, a PEG ratio of 12.64 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm’s 50-day simple moving average is $288.09 and its 200 day simple moving average is $240.67.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $25.47 billion. During the same quarter last year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wolfe Research assumed coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Bank of America increased their price target on Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $248.12.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock worth $171,393,831 in the last quarter. Insiders own 20.70% of the company’s stock.

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.