Fifth Third Bancorp Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Fifth Third Bancorp boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 410,882 shares of the electric vehicle producer’s stock after purchasing an additional 36,159 shares during the quarter. Fifth Third Bancorp’s holdings in Tesla were worth $106,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla in the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter worth about $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 0.1%

Shares of TSLA stock opened at $326.43 on Thursday. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 160.02, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a one year low of $169.80 and a one year high of $488.54. The company’s fifty day moving average price is $295.60 and its 200-day moving average price is $333.11. 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 issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Cantor Fitzgerald decreased their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $293.67.

Tesla 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.