Cullen Frost Bankers Inc. Sells 1,489 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cullen Frost Bankers Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 60,672 shares of the electric vehicle producer’s stock after selling 1,489 shares during the period. Cullen Frost Bankers Inc.’s holdings in Tesla were worth $15,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. bought a new position in Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC lifted its position in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. lifted its position in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. bought a new position in Tesla in the 3rd quarter valued at about $53,000. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,803 shares of company stock worth $56,124,840. 20.90% of the stock is currently owned by company insiders.

Tesla Stock Down 1.7 %

TSLA traded down $3.09 during midday trading on Wednesday, reaching $174.72. The company’s stock had a trading volume of 79,844,724 shares, compared to its average volume of 103,846,883. The firm has a market capitalization of $557.22 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 4.74 and a beta of 2.41. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The stock’s 50-day moving average is $173.12 and its 200-day moving average is $204.32.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Redburn Atlantic began coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Tesla in a research note on Thursday, May 2nd. They issued an “overweight” rating and a $230.00 price objective for the company. KGI Securities reiterated a “neutral” rating and issued a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Finally, China Renaissance began coverage on shares of Tesla in a research note on Monday, February 26th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.90.

Tesla Company 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.