Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,483,544 shares of the electric vehicle producer’s stock after purchasing an additional 252,263 shares during the quarter. Tesla comprises approximately 1.7% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 10th largest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tesla were worth $599,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. World Investment Advisors LLC lifted its stake in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management raised its holdings in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the period. Vinva Investment Management Ltd grew its holdings in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC increased its position in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 0.3 %

Shares of NASDAQ:TSLA opened at $262.67 on Monday. The company has a 50 day moving average of $367.78 and a 200-day moving average of $319.38. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market cap of $844.88 billion, a price-to-earnings ratio of 128.76, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TSLA shares. Jefferies Financial Group lifted their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus decreased their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $327.37.

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.