Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,648 shares of the electric vehicle producer’s stock after purchasing an additional 311 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Tesla were worth $658,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. increased its stake in Tesla by 6.6% in the 3rd quarter. Brown Advisory Inc. now owns 25,999 shares of the electric vehicle producer’s stock valued at $6,505,000 after buying an additional 1,604 shares during the period. WealthShield Partners LLC boosted its holdings in Tesla by 8.9% in the 3rd quarter. WealthShield Partners LLC now owns 2,389 shares of the electric vehicle producer’s stock valued at $598,000 after purchasing an additional 196 shares in the last quarter. Mackenzie Financial Corp increased its position in Tesla by 11.9% during the 3rd quarter. Mackenzie Financial Corp now owns 267,828 shares of the electric vehicle producer’s stock worth $66,028,000 after purchasing an additional 28,449 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of Tesla by 32.6% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 3,663 shares of the electric vehicle producer’s stock worth $917,000 after buying an additional 901 shares in the last quarter. Finally, Pennsylvania Capital Management Inc. ADV boosted its stake in shares of Tesla by 1.6% in the third quarter. Pennsylvania Capital Management Inc. ADV now owns 4,805 shares of the electric vehicle producer’s stock valued at $1,202,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s 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 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 legal filing with the SEC, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, 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. Insiders sold 302,803 shares of company stock worth $56,124,840 over the last three months. 20.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TSLA shares. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Canaccord Genuity Group lowered their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Cantor Fitzgerald assumed coverage on shares of Tesla in a research report on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price target for the company. Redburn Atlantic assumed coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.90.

Tesla Trading Down 1.7 %

Shares of NASDAQ TSLA traded down $3.09 during trading on Wednesday, hitting $174.72. 79,844,724 shares of the company traded hands, compared to its average volume of 103,846,883. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $557.22 billion, a P/E ratio of 44.57, a P/E/G ratio of 4.74 and a beta of 2.41. The company has a 50-day moving average price of $173.12 and a 200-day moving average price of $204.32. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29.

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.