J. L. Bainbridge & Co. Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

J. L. Bainbridge & Co. Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,179 shares of the electric vehicle producer’s stock after purchasing an additional 283 shares during the period. J. L. Bainbridge & Co. Inc.’s holdings in Tesla were worth $880,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TSLA. Swedbank AB grew its stake in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Principal Financial Group Inc. grew its stake in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank purchased a new position in Tesla in the third quarter valued at about $287,000. Haverford Trust Co grew its stake in Tesla by 37.2% in the third quarter. Haverford Trust Co now owns 2,268 shares of the electric vehicle producer’s stock valued at $593,000 after purchasing an additional 615 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in Tesla by 24.6% in the third quarter. Zions Bancorporation N.A. now owns 8,682 shares of the electric vehicle producer’s stock valued at $2,271,000 after purchasing an additional 1,715 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was 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. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Morgan Stanley reissued a “top pick” rating and issued a $430.00 price target on shares of Tesla in a report on Monday, March 3rd. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Guggenheim decreased their target price on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $325.65.

Tesla Stock Performance

NASDAQ TSLA opened at $249.98 on Friday. The stock’s fifty day moving average is $351.31 and its two-hundred day moving average is $318.74. The firm has a market capitalization of $804.06 billion, a P/E ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.