Sandy Spring Bank Buys 280 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sandy Spring Bank raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,770 shares of the electric vehicle producer’s stock after purchasing an additional 280 shares during the quarter. Sandy Spring Bank’s holdings in Tesla were worth $3,138,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Royal London Asset Management Ltd. raised its stake in shares of Tesla by 1.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 1,323,720 shares of the electric vehicle producer’s stock valued at $534,571,000 after purchasing an additional 19,385 shares in the last quarter. Trivest Advisors Ltd lifted its holdings in shares of Tesla by 57.5% during the 4th quarter. Trivest Advisors Ltd now owns 283,500 shares of the electric vehicle producer’s stock worth $114,489,000 after acquiring an additional 103,500 shares during the period. Generali Investments Management Co LLC acquired a new stake in shares of Tesla during the 4th quarter valued at about $3,810,000. GM Advisory Group LLC increased its stake in Tesla by 6.4% in the fourth quarter. GM Advisory Group LLC now owns 9,440 shares of the electric vehicle producer’s stock valued at $3,812,000 after acquiring an additional 569 shares during the period. Finally, Investment House LLC raised its position in Tesla by 3.8% in the fourth quarter. Investment House LLC now owns 5,605 shares of the electric vehicle producer’s stock worth $2,264,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Finally, Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target for the company in a report on Wednesday. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $319.56.

Tesla Trading Up 0.2 %

TSLA opened at $236.26 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm’s fifty day moving average is $338.11 and its two-hundred day moving average is $319.44. The firm has a market cap of $759.93 billion, a PE ratio of 115.81, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.