Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Decreased by Comerica Bank

Comerica Bank decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 391,126 shares of the electric vehicle producer's stock after selling 12,073 shares during the period. Tesla comprises about 0.6% of Comerica Bank's investment portfolio, making the stock its 21st biggest holding. Comerica Bank's holdings in Tesla were worth $157,953,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp grew 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 valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 2.2 %

Tesla stock opened at $292.03 on Wednesday. The company has a 50 day moving average price of $261.24 and a 200 day moving average price of $323.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The firm has a market capitalization of $940.62 billion, a price-to-earnings ratio of 143.15, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during 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 company posted $0.45 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $350.00 target price (up previously from $315.00) on shares of Tesla in a report on Tuesday, April 22nd. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and raised their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Raymond James cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Finally, Roth Mkm reduced their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and an average price target of $287.46.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by company insiders.

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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