Tesla, Inc. (NASDAQ:TSLA) Holdings Trimmed by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,672 shares of the electric vehicle producer’s stock after selling 1,489 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Tesla were worth $15,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. International Assets Investment Management LLC boosted its position in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. lifted its stake in Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares in the last quarter. California Public Employees Retirement System lifted its stake in Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after acquiring an additional 2,293,344 shares in the last quarter. Morgan Stanley lifted its stake in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after acquiring an additional 909,170 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA traded down $3.09 during midday trading on Wednesday, reaching $174.72. The company’s stock had a trading volume of 79,844,724 shares, compared to its average volume of 103,846,883. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The stock has a market cap of $557.22 billion, a P/E ratio of 44.57, a PEG ratio of 4.74 and a beta of 2.41. The company has a fifty day simple moving average of $173.12 and a 200 day simple moving average of $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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TSLA shares. The Goldman Sachs Group reduced their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. China Renaissance started coverage on Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Finally, Barclays cut their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $185.90.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 302,803 shares of company stock valued at $56,124,840. 20.90% of the stock is owned by corporate insiders.

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.