First Citizens Bank & Trust Co. Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

First Citizens Bank & Trust Co. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,610 shares of the electric vehicle producer’s stock after purchasing an additional 1,237 shares during the period. Tesla accounts for approximately 0.4% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 24th largest holding. First Citizens Bank & Trust Co.’s holdings in Tesla were worth $25,688,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter worth $35,000. M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Tesla in the 2nd quarter worth $48,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 0.3 %

NASDAQ TSLA opened at $398.31 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business has a fifty day moving average price of $399.99 and a 200 day moving average price of $295.57. The company has a market cap of $1.28 trillion, a P/E ratio of 109.13, a P/E/G ratio of 8.42 and a beta of 2.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Stifel Nicolaus lifted their target price on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $313.84.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s 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 directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 617,886 shares of company stock valued at $212,451,751. Corporate insiders own 20.70% of the company’s stock.

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.