Cullen Frost Bankers Inc. Has $28.33 Million Stock Position in Tesla, Inc. $TSLA

Cullen Frost Bankers Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,700 shares of the electric vehicle producer’s stock after purchasing an additional 2,124 shares during the quarter. 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 recently bought and sold shares of TSLA. Relyea Zuckerberg Hanson LLC grew its position in Tesla by 0.4% during the third quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after buying an additional 23 shares in the last quarter. Equita Financial Network Inc. boosted its stake in Tesla by 2.8% during the third quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock worth $380,000 after buying an additional 23 shares in the last quarter. VanderPol Investments L.L.C. lifted its holdings in shares of Tesla by 2.2% during the 3rd quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock worth $464,000 after acquiring an additional 23 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of Tesla by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock valued at $3,814,000 after acquiring an additional 23 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its stake in Tesla by 4.1% in the third quarter. Pinnacle Bancorp Inc. now owns 609 shares of the electric vehicle producer’s stock valued at $271,000 after acquiring an additional 24 shares during the period. 66.20% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the sale, the director directly owned 577,031 shares in the company, valued at $257,009,607.40. This trade represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction 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 transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,457 shares of company stock worth $53,501,145 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. HSBC restated a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Wells Fargo & Company restated an “underweight” rating and set a $130.00 target price (up previously from $120.00) on shares of Tesla in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Thursday, October 30th. Mizuho increased their price objective on Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, January 2nd. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $410.77.

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Tesla Stock Performance

TSLA stock opened at $435.20 on Tuesday. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $498.83. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.45 trillion, a PE ratio of 290.13, a P/E/G ratio of 7.63 and a beta of 1.83. The business’s 50-day moving average price is $445.33 and its two-hundred day moving average price is $405.63.

About Tesla

(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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