1ST Source Bank Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

1ST Source Bank lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,042 shares of the electric vehicle producer’s stock after purchasing an additional 55 shares during the quarter. 1ST Source Bank’s holdings in Tesla were worth $421,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TSLA. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla during the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla during the fourth quarter valued at approximately $47,000. PayPay Securities Corp raised its position in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Tesla during the fourth quarter valued at approximately $55,000. Finally, Finley Financial LLC purchased a new position in Tesla during the fourth quarter valued at approximately $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock opened at $238.01 on Tuesday. 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 company has a market capitalization of $765.56 billion, a PE ratio of 116.67, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business’s fifty day moving average price is $347.85 and its 200 day moving average price is $320.53.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Wedbush restated an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. cut their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $323.00.

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.