Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,483,544 shares of the electric vehicle producer's stock after buying an additional 252,263 shares during the period. Tesla comprises 1.7% of Zurcher Kantonalbank Zurich Cantonalbank's portfolio, making the stock its 10th largest holding. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Tesla were worth $599,114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the fourth quarter worth $46,000. PayPay Securities Corp increased its stake in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer's stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Tesla in the fourth quarter worth $55,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a "buy" rating and a $475.00 target price for the company. Canaccord Genuity Group restated a "buy" rating and set a $404.00 target price on shares of Tesla in a research report on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Monday, February 10th. Finally, Royal Bank of Canada restated a "mixed" rating on shares of Tesla in a research report on Saturday, February 8th. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $325.81.

Tesla Stock Down 3.0 %

NASDAQ TSLA traded down $7.41 during trading on Thursday, reaching $240.68. 114,105,535 shares of the company's stock traded hands, compared to its average volume of 88,543,070. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $774.15 billion, a price-to-earnings ratio of 117.98, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company's 50 day simple moving average is $357.29 and its two-hundred day simple moving average is $319.03. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company's stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. 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 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company's stock.

About Tesla

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.