BTC Capital Management Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,157 shares of the electric vehicle producer’s stock after purchasing an additional 2,611 shares during the period. BTC Capital Management Inc.’s holdings in Tesla were worth $4,587,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fulton Bank N.A. lifted its holdings in Tesla by 2.7% in the first quarter. Fulton Bank N.A. now owns 18,721 shares of the electric vehicle producer’s stock valued at $3,884,000 after acquiring an additional 496 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in Tesla by 2.8% in the first quarter. Insight Wealth Strategies LLC now owns 2,759 shares of the electric vehicle producer’s stock valued at $572,000 after acquiring an additional 75 shares during the last quarter. Merrion Investment Management Co LLC acquired a new position in Tesla in the first quarter valued at approximately $364,000. West Wealth Group LLC lifted its holdings in Tesla by 23.4% in the first quarter. West Wealth Group LLC now owns 7,013 shares of the electric vehicle producer’s stock valued at $1,455,000 after acquiring an additional 1,328 shares during the last quarter. Finally, Peterson Wealth Services lifted its holdings in Tesla by 189.7% in the first quarter. Peterson Wealth Services now owns 49,067 shares of the electric vehicle producer’s stock valued at $10,163,000 after acquiring an additional 32,131 shares during the last quarter. 43.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 1,298 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $215.51, for a total value of $279,731.98. Following the completion of the sale, the senior vice president now owns 66,834 shares in the company, valued at $14,403,395.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 1,298 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $215.51, for a total value of $279,731.98. Following the completion of the sale, the senior vice president now owns 66,834 shares in the company, valued at $14,403,395.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $650,000.00. Following the completion of the sale, the senior vice president now owns 65,438 shares of the company’s stock, valued at approximately $17,013,880. The disclosure for this sale can be found here. Insiders sold a total of 161,730 shares of company stock worth $32,096,687 over the last 90 days. Company insiders own 20.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $260.54 on Monday. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $314.67. The company has a market capitalization of $825.78 billion, a price-to-earnings ratio of 76.63, a price-to-earnings-growth ratio of 3.49 and a beta of 2.00. The firm has a 50-day simple moving average of $190.22 and a 200-day simple moving average of $176.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.04 and a current ratio of 1.57.

Tesla (NASDAQ:TSLA – Get Rating) last announced its earnings results on Wednesday, April 19th. The electric vehicle producer reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Tesla had a net margin of 13.66% and a return on equity of 27.29%. The business had revenue of $23.33 billion during the quarter, compared to the consensus estimate of $23.36 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. Truist Financial cut Tesla from a “buy” rating to a “hold” rating and decreased their price target for the stock from $245.00 to $154.00 in a research note on Friday, April 21st. Bank of America upped their price target on Tesla from $220.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, April 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating in a research note on Monday, June 12th. Finally, Mizuho cut their price objective on Tesla from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $203.15.

Tesla Company Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.

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