Cullen Frost Bankers Inc. Has $15.35 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cullen Frost Bankers Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 59,215 shares of the electric vehicle producer’s stock after purchasing an additional 3,391 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Tesla were worth $15,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Eagle Capital Management LLC acquired a new position in shares of Tesla during the fourth quarter worth about $331,000. Brighton Jones LLC boosted its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in Tesla during the 4th quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new position in Tesla during the 4th quarter worth approximately $2,367,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $310.78 on Wednesday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $324.04 and a two-hundred day simple moving average of $318.47. The stock has a market capitalization of $1.00 trillion, a price-to-earnings ratio of 170.76, a price-to-earnings-growth ratio of 9.43 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Guggenheim restated a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Tuesday, July 8th. Barclays reduced their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Wedbush reissued an “outperform” rating and set a $500.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Mizuho reduced their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $303.00 price objective on shares of Tesla in a report on Monday, June 30th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $300.19.

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.