M&T Bank Corp Buys 14,946 Shares of Tesla, Inc. (NASDAQ:TSLA)

M&T Bank Corp lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,388 shares of the electric vehicle producer’s stock after acquiring an additional 14,946 shares during the period. M&T Bank Corp’s holdings in Tesla were worth $143,924,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TSLA. Strategic Financial Concepts LLC raised its position in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC increased its position in Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after buying an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This represents a 20.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,386 shares of company stock valued at $153,916,675 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of Tesla stock opened at $279.10 on Thursday. The business has a 50 day simple moving average of $374.97 and a two-hundred day simple moving average of $318.13. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market capitalization of $897.73 billion, a P/E ratio of 136.81, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Robert W. Baird reduced their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Mizuho reaffirmed an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, UBS Group reissued a “neutral” rating on shares of Tesla in a report on Tuesday. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $315.33.

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.