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M&T Bank Corp Buys 32,286 Shares of Tesla, Inc. $TSLA

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Key Points

  • M&T Bank Corp boosted its Tesla stake by 10.4% in Q4, acquiring 32,286 shares to hold 342,603 shares worth about $154.08 million per its Form 13F filing.
  • Tesla beat EPS estimates ($0.41 vs. $0.39) but missed on revenue ($22.39B vs. $22.96B); Wall Street's consensus is a Hold with a $398.42 average price target.
  • Notable near‑term developments: Tesla disclosed over $500M in sales to Musk‑linked companies and the first Tesla Semi rolled off a high‑volume production line, adding revenue/cash tailwinds and a key product milestone.
  • Interested in Tesla? Here are five stocks we like better.

M&T Bank Corp grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,603 shares of the electric vehicle producer's stock after acquiring an additional 32,286 shares during the period. M&T Bank Corp's holdings in Tesla were worth $154,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TSLA. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Tesla by 9.1% in the second quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer's stock worth $3,855,000 after acquiring an additional 1,011 shares during the last quarter. Finally, AGP Franklin LLC raised its stake in shares of Tesla by 21.2% in the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer's stock worth $1,544,000 after acquiring an additional 851 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. Morgan Stanley set a $415.00 target price on shares of Tesla and gave the stock an "equal weight" rating in a research note on Thursday, January 29th. China Renaissance dropped their price target on shares of Tesla from $382.00 to $372.00 and set a "hold" rating for the company in a research note on Monday, April 27th. Roth Mkm reissued a "buy" rating on shares of Tesla in a research note on Thursday, April 23rd. Canaccord Genuity Group boosted their price target on shares of Tesla from $420.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Finally, HSBC began coverage on shares of Tesla in a research note on Monday, April 27th. They set a "buy" rating for the company. Nineteen analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $398.42.

View Our Latest Report on TSLA

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

Tesla Stock Performance

TSLA opened at $390.82 on Monday. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 358.55, a price-to-earnings-growth ratio of 14.87 and a beta of 1.79. The firm has a 50 day simple moving average of $383.09 and a 200 day simple moving average of $419.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla, Inc. has a fifty-two week low of $271.00 and a fifty-two week high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to analysts' expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.25 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 25,809 shares of the business's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the completion of the transaction, the director owned 33,860 shares in the company, valued at approximately $12,166,913.80. The trade was a 43.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,264 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the transaction, the chief financial officer owned 18,106 shares of the company's stock, valued at approximately $7,188,625.18. This represents a 11.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 53,804 shares of company stock valued at $20,865,598. Corporate insiders own 19.90% of the company's stock.

Tesla Profile

(Free Report)

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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