Simmons Bank Purchases 172 Shares of Tesla, Inc. (NASDAQ:TSLA)

Simmons Bank lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,424 shares of the electric vehicle producer’s stock after buying an additional 172 shares during the quarter. Simmons Bank’s holdings in Tesla were worth $602,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the period. Oak Ridge Investments LLC grew its position in shares of Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after buying an additional 1,405 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after buying an additional 25,943 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after acquiring an additional 81,729 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. China Renaissance began coverage on shares of Tesla in a report on Monday, February 26th. They issued a “hold” rating for the company. HSBC lowered their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a report on Wednesday, April 24th. Evercore ISI reduced their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. Piper Sandler restated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Finally, Canaccord Genuity Group cut their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $185.90.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,803 shares of company stock worth $56,124,840. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Performance

TSLA traded down $3.47 during midday trading on Wednesday, hitting $174.34. 73,208,395 shares of the company were exchanged, compared to its average volume of 103,749,086. The company’s 50 day simple moving average is $173.12 and its 200 day simple moving average is $204.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $556.01 billion, a price-to-earnings ratio of 44.50, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

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.