Cullen Frost Bankers Inc. Acquires 2,124 Shares of Tesla, Inc. $TSLA

Cullen Frost Bankers Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,700 shares of the electric vehicle producer’s stock after purchasing an additional 2,124 shares during the period. Cullen Frost Bankers Inc.’s holdings in Tesla were worth $28,328,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Narwhal Capital Management grew its position in shares of Tesla by 32.8% in the third quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock valued at $4,232,000 after purchasing an additional 2,350 shares during the last quarter. Norges Bank acquired a new position in Tesla in the 2nd quarter valued at $11,839,824,000. Police & Firemen s Retirement System of New Jersey grew its holdings in Tesla by 5.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after buying an additional 22,607 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Tesla by 1,823.0% during the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after buying an additional 64,772 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of Tesla by 20.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 16,565 shares of the electric vehicle producer’s stock worth $7,367,000 after buying an additional 2,765 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 119,457 shares of company stock valued at $53,501,145. 19.90% of the stock is currently owned by insiders.

Tesla Stock Down 3.1%

Shares of TSLA opened at $435.20 on Tuesday. The stock has a fifty day moving average of $445.33 and a 200-day moving average of $405.63. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $498.83. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 290.13, a PEG ratio of 7.63 and a beta of 1.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Evercore ISI raised their price target on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. New Street Research raised their target price on shares of Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Roth Mkm set a $505.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, October 23rd. Glj Research reissued a “sell” rating and set a $25.28 price target (up previously from $19.05) on shares of Tesla in a research report on Wednesday, January 7th. Finally, China Renaissance lifted their price objective on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $410.77.

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Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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