Associated Banc Corp Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Associated Banc Corp raised its position in Tesla, Inc. (NASDAQ:TSLA) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,624 shares of the electric vehicle producer’s stock after buying an additional 451 shares during the quarter. Associated Banc Corp’s holdings in Tesla were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Tesla in the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. acquired a new position in shares of Tesla in the fourth quarter valued at approximately $47,000. PayPay Securities Corp increased its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Bank of America dropped their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Guggenheim cut their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday. Finally, Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $325.65.

Tesla Stock Up 3.9 %

Shares of NASDAQ:TSLA opened at $249.98 on Friday. The stock’s 50-day moving average price is $351.31 and its two-hundred day moving average price is $319.51. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market cap of $804.06 billion, a price-to-earnings ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50.

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

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last three months. Corporate insiders own 20.70% of the company’s stock.

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.