Zions Bancorporation N.A. Acquires 1,715 Shares of Tesla, Inc. (NASDAQ:TSLA)

Zions Bancorporation N.A. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,682 shares of the electric vehicle producer’s stock after acquiring an additional 1,715 shares during the quarter. Zions Bancorporation N.A.’s holdings in Tesla were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV increased its stake in Tesla by 8.1% in the third quarter. KBC Group NV now owns 504,145 shares of the electric vehicle producer’s stock valued at $131,900,000 after acquiring an additional 37,951 shares during the last quarter. ROI Financial Advisors LLC raised its holdings in Tesla by 4.9% in the 3rd quarter. ROI Financial Advisors LLC now owns 4,339 shares of the electric vehicle producer’s stock worth $1,135,000 after acquiring an additional 202 shares during the last quarter. Fortis Capital Management LLC raised its holdings in Tesla by 182.2% in the 3rd quarter. Fortis Capital Management LLC now owns 21,007 shares of the electric vehicle producer’s stock worth $5,496,000 after acquiring an additional 13,563 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Tesla by 7.2% in the 3rd quarter. Plato Investment Management Ltd now owns 62,310 shares of the electric vehicle producer’s stock worth $16,286,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Cable Hill Partners LLC grew its position in Tesla by 4.0% in the 3rd quarter. Cable Hill Partners LLC now owns 1,246 shares of the electric vehicle producer’s stock worth $326,000 after purchasing an additional 48 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSLA shares. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays upped their target price on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America increased their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. William Blair began coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, October 17th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $228.24.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is owned by insiders.

Tesla Trading Down 5.8 %

Shares of TSLA stock opened at $311.18 on Friday. 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 stock has a market capitalization of $998.91 billion, a P/E ratio of 85.25, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The company has a 50 day moving average price of $248.48 and a 200 day moving average price of $218.94. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

About Tesla

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.