Whittier Trust Co. Has $30.38 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Whittier Trust Co. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 123.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,220 shares of the electric vehicle producer’s stock after buying an additional 41,576 shares during the quarter. Whittier Trust Co.’s holdings in Tesla were worth $30,376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Geode Capital Management LLC boosted its stake in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares during the period. FMR LLC raised its position in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tesla by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after acquiring an additional 780,026 shares in the last quarter. Finally, Amundi increased its holdings in shares of Tesla by 1.2% in the 4th quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock valued at $5,117,345,000 after purchasing an additional 159,508 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $235.86 on Thursday. The business’s 50 day moving average is $341.28 and its 200-day moving average is $320.02. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $758.65 billion, a PE ratio of 115.62, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 over the last quarter. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Mizuho decreased their price target on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a research report on Wednesday. Bank of America dropped their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $404.00 price target on shares of Tesla in a report on Monday. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $321.12.

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.