Modera Wealth Management LLC Acquires 2,539 Shares of Tesla, Inc. (NASDAQ:TSLA)

Modera Wealth Management LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,398 shares of the electric vehicle producer’s stock after acquiring an additional 2,539 shares during the period. Modera Wealth Management LLC’s holdings in Tesla were worth $5,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Swedbank AB increased its position in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Tesla during the 3rd quarter worth about $403,000. Lansing Street Advisors grew its holdings in Tesla by 4.0% during the 3rd quarter. Lansing Street Advisors now owns 1,852 shares of the electric vehicle producer’s stock valued at $485,000 after purchasing an additional 72 shares during the last quarter. Blue Square Asset Management LLC raised its position in Tesla by 9.0% in the 3rd quarter. Blue Square Asset Management LLC now owns 28,527 shares of the electric vehicle producer’s stock worth $7,464,000 after purchasing an additional 2,350 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Tesla by 12.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 817,309 shares of the electric vehicle producer’s stock worth $213,833,000 after purchasing an additional 93,389 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $284.65 on Tuesday. The company has a market cap of $915.58 billion, a price-to-earnings ratio of 139.53, a PEG ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock’s fifty day moving average price is $382.44 and its 200 day moving average price is $318.01. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 403,996 shares of company stock valued at $153,721,387. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on TSLA shares. Stifel Nicolaus cut their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Wednesday, February 12th. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $318.77.

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.