Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Comerica Bank

Comerica Bank lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 417,686 shares of the electric vehicle producer’s stock after purchasing an additional 10,274 shares during the quarter. Comerica Bank’s holdings in Tesla were worth $103,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the fourth quarter valued at $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A bought a new position in Tesla in the 4th quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. increased its stake in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Guggenheim restated a “sell” rating and set a $122.00 price objective on shares of Tesla in a research report on Tuesday, April 23rd. Mizuho dropped their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, Wedbush restated an “outperform” rating and set a $275.00 target price on shares of Tesla in a report on Monday, April 29th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $185.90.

Get Our Latest Stock Analysis on Tesla

Tesla Stock Up 3.9 %

TSLA stock traded up $6.63 during mid-day trading on Wednesday, hitting $177.29. The stock had a trading volume of 90,219,925 shares, compared to its average volume of 96,746,844. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a fifty day moving average of $172.41 and a 200 day moving average of $196.18. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $565.41 billion, a price-to-earnings ratio of 45.23, a PEG ratio of 4.31 and a beta of 2.32.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, equities analysts expect that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is owned by corporate insiders.

Tesla Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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