Umpqua Bank Buys New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Umpqua Bank acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 527 shares of the electric vehicle producer’s stock, valued at approximately $209,000.

Several other large investors also recently made changes to their positions in TSLA. GS Investments Inc. increased its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Cyrus J. Lawrence LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $44,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the 4th quarter valued at about $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla in the 4th quarter worth approximately $47,000. Finally, PayPay Securities Corp grew its position in 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 acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. 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 note on Friday, January 3rd. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Piper Sandler cut their target price on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, Morgan Stanley cut their price target on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $318.93.

Tesla Trading Up 5.3 %

Tesla stock opened at $248.71 on Friday. 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 $799.98 billion, a PE ratio of 121.92, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm has a 50 day simple moving average of $335.19 and a 200-day simple moving average of $320.44. 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 posted its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.