BTC Capital Management Inc. Has $4.87 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

BTC Capital Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 386.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,837 shares of the electric vehicle producer's stock after buying an additional 14,961 shares during the quarter. BTC Capital Management Inc.'s holdings in Tesla were worth $4,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC raised its position in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler set a $400.00 price target on Tesla in a research report on Tuesday, May 6th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Canaccord Genuity Group dropped their target price on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, HSBC dropped their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $293.97.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $9.34 during midday trading on Friday, hitting $349.09. 122,996,137 shares of the company's stock were exchanged, compared to its average volume of 98,157,709. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company's 50 day moving average price is $286.92 and its 200 day moving average price is $333.97. The firm has a market capitalization of $1.12 trillion, a PE ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 984,783 shares of company stock valued at $320,019,942. Insiders own 20.70% of the company's stock.

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.