Ballew Advisors Inc Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Ballew Advisors Inc raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,069 shares of the electric vehicle producer’s stock after buying an additional 160 shares during the period. Ballew Advisors Inc’s holdings in Tesla were worth $763,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TSLA. Vanguard Group Inc. raised its stake in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares in the last quarter. State Street Corp lifted its holdings in shares of Tesla by 4.4% in the 2nd quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock valued at $27,254,286,000 after purchasing an additional 4,431,570 shares during the last quarter. Morgan Stanley boosted its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. FMR LLC grew its stake in Tesla by 0.9% during the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after buying an additional 269,182 shares during the last quarter. Finally, Norges Bank purchased a new stake in Tesla in the fourth quarter valued at approximately $3,459,540,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wedbush reduced their price target on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $298.00 target price on shares of Tesla in a research note on Wednesday. UBS Group reduced their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Finally, Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $204.63.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction 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 directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is currently owned by insiders.

Tesla Stock Down 2.2 %

Tesla stock traded down $4.04 during midday trading on Thursday, hitting $175.79. 77,386,336 shares of the company were exchanged, compared to its average volume of 102,682,047. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The company’s fifty day moving average price is $187.78 and its 200-day moving average price is $222.06. The company has a market cap of $559.85 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 4.01 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the company posted $1.07 earnings per share. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

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.