Fulton Bank N.A. Purchases 2,815 Shares of Tesla, Inc. (NASDAQ:TSLA)

Fulton Bank N.A. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 28,680 shares of the electric vehicle producer's stock after buying an additional 2,815 shares during the period. Fulton Bank N.A.'s holdings in Tesla were worth $7,433,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TSLA. True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. boosted 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 valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. grew its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the 4th quarter valued at $38,000. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TSLA shares. Royal Bank of Canada cut their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Ten 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $293.97.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 over the last three months. Insiders own 20.70% of the company's stock.

Tesla Stock Down 14.3%

Tesla stock traded down $47.37 during mid-day trading on Thursday, reaching $284.68. The company's stock had a trading volume of 277,571,779 shares, compared to its average volume of 99,097,566. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business's 50 day simple moving average is $291.12 and its 200 day simple moving average is $334.34. The company has a market capitalization of $916.94 billion, a price-to-earnings ratio of 139.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54.

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

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.