Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 410,882 shares of the electric vehicle producer's stock after purchasing an additional 36,159 shares during the quarter. Fifth Third Bancorp's holdings in Tesla were worth $106,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted 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 buying an additional 34 shares during the period. GS Investments Inc. lifted its holdings in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC purchased a new stake in Tesla during the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the 4th quarter valued at $38,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wedbush set a $500.00 price objective on Tesla in a report on Thursday, June 5th. Piper Sandler restated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research note on Tuesday. Cantor Fitzgerald reduced their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Glj Research restated a "sell" rating and issued a $19.05 target price (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $293.67.

Tesla Trading Down 2.2%

NASDAQ:TSLA traded down $7.32 during trading hours on Thursday, reaching $319.11. 104,392,972 shares of the company were exchanged, compared to its average volume of 100,720,943. 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 has a market cap of $1.03 trillion, a price-to-earnings ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52-week low of $176.92 and a 52-week high of $488.54. The stock has a 50 day simple moving average of $295.60 and a 200 day simple moving average of $333.11.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations 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 prior year, the business earned $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 818,509 shares of company stock valued at $273,791,775. Company insiders own 20.70% of the company's stock.

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.