Intrust Bank NA Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Intrust Bank NA cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,946 shares of the electric vehicle producer’s stock after selling 389 shares during the period. Intrust Bank NA’s holdings in Tesla were worth $3,714,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. My Legacy Advisors LLC raised its stake in Tesla by 33.4% during the third quarter. My Legacy Advisors LLC now owns 1,238 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 310 shares during the period. Global Wealth Strategies & Associates raised its stake in Tesla by 23.5% during the third quarter. Global Wealth Strategies & Associates now owns 1,403 shares of the electric vehicle producer’s stock worth $351,000 after purchasing an additional 267 shares during the period. Harbor Capital Advisors Inc. raised its stake in Tesla by 8.1% during the third quarter. Harbor Capital Advisors Inc. now owns 8,216 shares of the electric vehicle producer’s stock worth $2,056,000 after purchasing an additional 614 shares during the period. Atlantic Union Bankshares Corp raised its stake in Tesla by 5.1% during the third quarter. Atlantic Union Bankshares Corp now owns 13,683 shares of the electric vehicle producer’s stock worth $3,424,000 after purchasing an additional 662 shares during the period. Finally, Brookstone Capital Management raised its stake in shares of Tesla by 23.4% in the 3rd quarter. Brookstone Capital Management now owns 87,788 shares of the electric vehicle producer’s stock valued at $21,966,000 after acquiring an additional 16,626 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is owned by company insiders.

Tesla Stock Performance

TSLA stock traded up $25.76 during midday trading on Monday, reaching $194.05. 241,614,129 shares of the company were exchanged, compared to its average volume of 104,912,961. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The business has a 50-day moving average price of $175.04 and a two-hundred day moving average price of $207.22. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The firm has a market capitalization of $618.86 billion, a price-to-earnings ratio of 48.47, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TSLA. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Wednesday, April 17th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Wells Fargo & Company cut their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. The Goldman Sachs Group cut their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Finally, TD Cowen lowered their price target on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.32.

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.