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

Sandy Spring Bank boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 186.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,378 shares of the electric vehicle producer’s stock after acquiring an additional 5,455 shares during the quarter. Sandy Spring Bank’s holdings in Tesla were worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Tesla by 0.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock valued at $1,186,000 after buying an additional 11 shares during the period. Advisor OS LLC lifted its holdings in shares of Tesla by 2.4% in the 2nd quarter. Advisor OS LLC now owns 510 shares of the electric vehicle producer’s stock valued at $344,000 after buying an additional 12 shares during the period. Alera Investment Advisors LLC lifted its holdings in shares of Tesla by 1.4% in the 2nd quarter. Alera Investment Advisors LLC now owns 852 shares of the electric vehicle producer’s stock valued at $574,000 after buying an additional 12 shares during the period. Stanley Laman Group Ltd. lifted its holdings in shares of Tesla by 4.0% in the 2nd quarter. Stanley Laman Group Ltd. now owns 314 shares of the electric vehicle producer’s stock valued at $211,000 after buying an additional 12 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its holdings in shares of Tesla by 1.2% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 1,004 shares of the electric vehicle producer’s stock valued at $676,000 after buying an additional 12 shares during the period. 43.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. JPMorgan Chase & Co. reduced their price target on Tesla from $150.00 to $125.00 and set an “underweight” rating for the company in a report on Tuesday, January 3rd. Cowen dropped their price objective on Tesla from $205.00 to $122.00 in a research note on Tuesday, January 3rd. Wolfe Research dropped their price objective on Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Roth Capital raised their price objective on Tesla from $83.33 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, October 20th. Finally, Truist Financial dropped their price objective on Tesla from $299.00 to $245.00 and set a “buy” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $216.60.

Insider Activity at Tesla

In related news, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total value of $410,131.12. Following the transaction, the chief financial officer now owns 200,411 shares in the company, valued at $21,906,926.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total transaction of $410,131.12. Following the transaction, the chief financial officer now owns 200,411 shares in the company, valued at $21,906,926.41. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the transaction, the senior vice president now owns 62,988 shares in the company, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is owned by insiders.

Tesla Price Performance

Shares of Tesla stock opened at $143.89 on Wednesday. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $384.29. The stock has a market capitalization of $454.37 billion, a P/E ratio of 44.46, a PEG ratio of 1.18 and a beta of 2.02. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $148.77 and its 200 day moving average price is $220.41.

Tesla Company Profile

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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.