Citizens Financial Group Inc. RI Has $23.82 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Citizens Financial Group Inc. RI lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 121.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 58,972 shares of the electric vehicle producer’s stock after purchasing an additional 32,395 shares during the period. Citizens Financial Group Inc. RI’s holdings in Tesla were worth $23,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC raised its position in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Tesla by 13.7% in 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after buying an additional 780,026 shares during the last quarter. Finally, Amundi raised its position in Tesla by 1.2% in the 4th quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock valued at $5,117,345,000 after buying an additional 159,508 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA opened at $222.15 on Tuesday. The business’s 50-day moving average price is $363.87 and its two-hundred day moving average price is $319.46. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $714.55 billion, a P/E ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TSLA shares. Stifel Nicolaus lowered their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company raised their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their target price for the company from $180.00 to $388.00 in a research report on Friday. Finally, Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $326.31.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 422,452 shares of company stock valued at $153,659,530. Corporate insiders own 20.70% of the company’s stock.

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.