Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Financial Advisors LLC

Financial Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,002 shares of the electric vehicle producer’s stock after buying an additional 62 shares during the quarter. Financial Advisors LLC’s holdings in Tesla were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mount Vernon Associates Inc. MD lifted its holdings in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares in the last quarter. Oak Ridge Investments LLC grew its stake in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares in the last quarter. Corient Private Wealth LLC lifted its position in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after acquiring an additional 6,615 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 1.1 %

Shares of Tesla stock traded down $1.89 on Friday, hitting $168.29. The stock had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. The firm has a market capitalization of $536.71 billion, a P/E ratio of 42.93, a PEG ratio of 4.45 and a beta of 2.39. The stock has a 50 day moving average of $175.04 and a 200 day moving average of $207.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Wednesday. Mizuho cut their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday. HSBC decreased their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday. KGI Securities restated a “neutral” rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Finally, Truist Financial lowered their price target on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $186.70.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last ninety days. 25.10% of the stock is currently owned by insiders.

About Tesla

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.