Fulton Bank N.A. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Fulton Bank N.A. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,193 shares of the electric vehicle producer’s stock after buying an additional 472 shares during the period. Fulton Bank N.A.’s holdings in Tesla were worth $5,024,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Axiom Financial Strategies LLC grew its position in Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after purchasing an additional 164,789 shares in the last quarter. MAS Advisors LLC increased its stake in Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 81 shares during the period. Ergoteles LLC lifted its holdings in Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after buying an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares during the last quarter. Institutional investors and hedge funds own 41.87% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the sale, the senior vice president now owns 59,540 shares in the company, valued at approximately $14,862,374.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,249,350.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares in the company, valued at approximately $14,862,374.80. The disclosure for this sale can be found here. Insiders sold 55,815 shares of company stock worth $14,384,135 in the last quarter. 25.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TSLA shares. JPMorgan Chase & Co. raised their price target on shares of Tesla from $115.00 to $120.00 and gave the stock an “underweight” rating in a research report on Monday, July 3rd. Barclays lowered shares of Tesla from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $260.00 in a report on Wednesday, June 21st. TD Cowen upped their target price on shares of Tesla from $150.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 20th. The Goldman Sachs Group lifted their price target on Tesla from $248.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, July 3rd. Finally, UBS Group began coverage on Tesla in a research note on Tuesday. They set a “neutral” rating and a $290.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $239.43.

Tesla Stock Performance

TSLA stock opened at $276.04 on Friday. The company has a 50-day simple moving average of $255.83 and a 200 day simple moving average of $220.11. The company has a market capitalization of $876.15 billion, a P/E ratio of 78.20, a PEG ratio of 4.23 and a beta of 2.09. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $313.80.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.69 by $0.22. The firm had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. Tesla’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

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. It 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, retail merchandise, and vehicle insurance services.