Zurcher Kantonalbank Zurich Cantonalbank Purchases 252,263 Shares of Tesla, Inc. (NASDAQ:TSLA)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.5% in the fourth quarter, according to 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 period. Tesla accounts for approximately 1.7% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 10th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tesla were worth $599,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Schwarz Dygos Wheeler Investment Advisors LLC bought a new stake in Tesla during the 4th quarter valued at $261,000. Bell Investment Advisors Inc increased its holdings in shares of Tesla by 1.3% during the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer’s stock valued at $945,000 after purchasing an additional 30 shares during the period. SLT Holdings LLC bought a new stake in shares of Tesla during the fourth quarter valued at about $1,932,000. Sound View Wealth Advisors Group LLC lifted its holdings in Tesla by 2.2% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 44,481 shares of the electric vehicle producer’s stock worth $17,963,000 after purchasing an additional 969 shares during the period. Finally, BOK Financial Private Wealth Inc. grew its position in Tesla by 4.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 1,247 shares of the electric vehicle producer’s stock valued at $504,000 after buying an additional 50 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Wednesday, February 12th. Truist Financial upped their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target for the company. Robert W. Baird dropped their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Nine equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $327.37.

Tesla Trading Down 0.3 %

NASDAQ TSLA opened at $262.67 on Monday. The company has a market capitalization of $844.88 billion, a PE ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $367.78 and its 200-day simple moving average is $319.38.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $25,466,850. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,452 shares of company stock worth $153,659,530 over the last ninety days. 20.70% of the stock is currently owned by insiders.

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.