Tesla, Inc. (NASDAQ:TSLA) Position Raised by OLD National Bancorp IN

OLD National Bancorp IN raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,222 shares of the electric vehicle producer’s stock after buying an additional 1,363 shares during the period. OLD National Bancorp IN’s holdings in Tesla were worth $6,551,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC grew its stake in shares of Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% during the third 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 valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after buying an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Piper Sandler raised their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Wedbush lifted their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $318.31.

Tesla Stock Performance

TSLA opened at $404.60 on Monday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30. The stock’s 50 day moving average price is $404.22 and its two-hundred day moving average price is $299.34. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 return on equity of 10.54% and a net margin of 7.26%. On average, equities analysts forecast that Tesla, Inc. will post 2.82 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 553,386 shares of company stock worth $196,305,796. Company 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.