Atria Investments Inc Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Atria Investments Inc raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 112,095 shares of the electric vehicle producer’s stock after purchasing an additional 8,299 shares during the period. Tesla makes up 0.6% of Atria Investments Inc’s holdings, making the stock its 23rd biggest holding. Atria Investments Inc’s holdings in Tesla were worth $45,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hengehold Capital Management LLC raised its holdings in shares of Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI raised its holdings in shares of Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC raised its holdings in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares during the period. Finally, Vista Finance LLC raised its holdings in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at $6,833,325.68. The trade was a 20.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 422,386 shares of company stock valued at $153,916,675. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TSLA shares. Jefferies Financial Group boosted their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Guggenheim restated a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Barclays upped their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Piper Sandler upped their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $315.33.

Tesla Stock Performance

Shares of TSLA stock opened at $279.10 on Thursday. The company has a market cap of $897.73 billion, a price-to-earnings ratio of 136.81, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The stock has a 50 day simple moving average of $374.97 and a 200-day simple moving average of $318.13. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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

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.