Zions Bancorporation National Association UT Invests $5.77 Million in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Zions Bancorporation invested approximately $5.77 million in Tesla, acquiring 22,259 shares in the 1st quarter.
• Several large investors, including Goldman Sachs and Vanguard Group, significantly increased their positions in Tesla, with institutional investors owning 66.20% of the company's stock.
• Analysts have mixed ratings for Tesla, with a consensus rating of "Hold" and price target adjustments ranging from $303 to $450.

Zions Bancorporation National Association UT purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 22,259 shares of the electric vehicle producer's stock, valued at approximately $5,769,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Northern Trust Corp lifted its position in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after purchasing an additional 158,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after purchasing an additional 849,091 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Canaccord Genuity Group upped their price target on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock valued at $214,176,831 over the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Stock Up 2.3%

NASDAQ:TSLA opened at $329.61 on Friday. Tesla, Inc. has a 12-month low of $194.67 and a 12-month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 190.53, a P/E/G ratio of 11.32 and a beta of 2.33. The stock's fifty day simple moving average is $318.68 and its 200-day simple moving average is $308.19.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.

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