Simmons Bank Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Simmons Bank lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,263 shares of the electric vehicle producer’s stock after buying an additional 399 shares during the period. Simmons Bank’s holdings in Tesla were worth $5,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter worth approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the 4th quarter worth approximately $46,000. PayPay Securities Corp grew its position in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter worth approximately $35,000. Finally, Finley Financial LLC purchased a new stake in Tesla during the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $293.33 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. The company has a fifty day moving average of $385.35 and a two-hundred day moving average of $315.95. The stock has a market capitalization of $943.49 billion, a PE ratio of 143.79, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. Robert W. Baird dropped their target price on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Truist Financial boosted their target price on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Wednesday, February 12th. Finally, Evercore ISI lifted their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $318.77.

Tesla Company Profile

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.