SRS Capital Advisors Inc. Acquires 7,053 Shares of Tesla, Inc. (NASDAQ:TSLA)

SRS Capital Advisors Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 111.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,361 shares of the electric vehicle producer’s stock after buying an additional 7,053 shares during the period. SRS Capital Advisors Inc.’s holdings in Tesla were worth $5,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. World Investment Advisors LLC raised its stake in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management lifted its position in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC lifted its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the last quarter. Vinva Investment Management Ltd lifted its position in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. UBS Group increased their price target on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Wedbush set a $302.80 target price on Tesla in a research report on Wednesday, February 26th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Finally, Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $318.77.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 403,996 shares of company stock valued at $153,721,387 over the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 2.8 %

Shares of NASDAQ TSLA opened at $284.65 on Tuesday. The company’s 50-day simple moving average is $382.44 and its 200-day simple moving average is $318.01. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $915.58 billion, a price-to-earnings ratio of 139.53, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.