Amalgamated Bank Has $170 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Amalgamated Bank lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 684,149 shares of the electric vehicle producer's stock after selling 36,342 shares during the quarter. Tesla accounts for about 1.4% of Amalgamated Bank's investment portfolio, making the stock its 8th largest position. Amalgamated Bank's holdings in Tesla were worth $169,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Wyrmwood Management LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. acquired a new position in Tesla in the fourth quarter worth $25,000. Mendota Financial Group LLC grew its holdings in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer's stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. increased its stake in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer's stock valued at $47,000 after buying an additional 100 shares in the last quarter. Finally, Cordant Inc. bought a new position in shares of Tesla in the third quarter valued at about $53,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company's stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. 25.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 24th. Edward Jones lowered shares of Tesla from a "buy" rating to a "hold" rating in a report on Friday, January 26th. Morgan Stanley reduced their price objective on Tesla from $320.00 to $310.00 and set an "overweight" rating on the stock in a report on Thursday, April 4th. JPMorgan Chase & Co. lowered their target price on Tesla from $130.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 3rd. Finally, UBS Group cut their price target on Tesla from $160.00 to $147.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $185.90.

Tesla Stock Performance

Shares of TSLA traded up $0.02 during mid-day trading on Thursday, reaching $180.01. The company's stock had a trading volume of 88,368,478 shares, compared to its average volume of 105,028,250. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The business has a 50-day simple moving average of $174.07 and a two-hundred day simple moving average of $205.92. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market cap of $574.09 billion, a P/E ratio of 45.92, a PEG ratio of 4.98 and a beta of 2.40.

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.