Big Banks buying up Tesla! US Bancorp DE increased its stake in Tesla Motors Inc (NASDAQ:TSLA) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,189 shares of the electric vehicle producer’s stock after buying an additional 279 shares during the period. US Bancorp DE’s holdings in Tesla Motors were worth $2,925,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. increased its position in shares of Tesla Motors by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 10,714,449 shares of the electric vehicle producer’s stock valued at $2,571,575,000 after buying an additional 1,202,500 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Tesla Motors by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 4,128,703 shares of the electric vehicle producer’s stock valued at $990,930,000 after buying an additional 155,561 shares during the last quarter. Winslow Capital Management LLC increased its stake in shares of Tesla Motors by 9.5% in the fourth quarter. Winslow Capital Management LLC now owns 882,221 shares of the electric vehicle producer’s stock valued at $211,742,000 after buying an additional 76,182 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Tesla Motors by 95.6% in the fourth quarter. American Century Companies Inc. now owns 591,908 shares of the electric vehicle producer’s stock valued at $142,064,000 after buying an additional 289,298 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Tesla Motors by 0.4% in the fourth quarter. California Public Employees Retirement System now owns 278,700 shares of the electric vehicle producer’s stock valued at $66,891,000 after buying an additional 1,000 shares during the last quarter.
Shares of Tesla Motors Inc (NASDAQ:TSLA) traded up 2.20% during trading on Friday, reaching $253.75. 3,780,181 shares of the company traded hands. Tesla Motors Inc has a 12 month low of $141.05 and a 12 month high of $286.65. The firm’s market capitalization is $33.51 billion. The firm has a 50-day moving average price of $232.90 and a 200-day moving average price of $215.10.
Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, February 10th. The electric vehicle producer reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.98. The company earned $1.75 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business posted ($0.13) EPS. The company’s revenue for the quarter was up 59.5% compared to the same quarter last year. Equities research analysts anticipate that Tesla Motors Inc will post $1.27 EPS for the current year.
Several brokerages have recently weighed in on TSLA. Standpoint Research downgraded shares of Tesla Motors from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a report on Thursday, April 7th. Deutsche Bank reaffirmed a “hold” rating and issued a $280.00 target price on shares of Tesla Motors in a report on Tuesday, April 5th. FBN Securities reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Tesla Motors in a report on Tuesday, April 5th. Barclays reaffirmed an “underweight” rating and issued a $165.00 target price on shares of Tesla Motors in a report on Wednesday, April 6th. Finally, Vetr downgraded shares of Tesla Motors from a “sell” rating to a “strong sell” rating and set a $223.56 target price on the stock. in a report on Wednesday, April 6th. Nine investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $268.82.
In related news, Director Kimbal Musk sold 11,997 shares of the stock in a transaction on Friday, March 18th. The stock was sold at an average price of $232.71, for a total value of $2,791,821.87. Following the sale, the director now owns 164,322 shares in the company, valued at approximately $38,239,372.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Tesla Motors, Inc is a United States-based company, which designs, develops, manufactures and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S, which is a fully electric, four-door, five-adult passenger