Tesla, Inc. (NASDAQ:TSLA) Stake Lifted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,571 shares of the electric vehicle producer’s stock after buying an additional 287 shares during the quarter. Tesla accounts for 1.9% of EverSource Wealth Advisors LLC’s holdings, making the stock its 7th largest holding. EverSource Wealth Advisors LLC’s holdings in Tesla were worth $29,711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Peterson Financial Group Inc. bought a new position in Tesla in the third quarter worth approximately $35,000. Rialto Wealth Management LLC purchased a new stake in Tesla during the fourth quarter worth $55,000. Finally, Finley Financial LLC bought a new stake in Tesla during the 4th quarter valued at $64,000. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $230.58 on Wednesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market capitalization of $741.66 billion, a P/E ratio of 113.03, a P/E/G ratio of 5.86 and a beta of 2.50. 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 company’s fifty day moving average price is $360.40 and its 200 day moving average price is $319.53.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TSLA shares. Piper Sandler upped their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $326.43.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’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 transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,452 shares of company stock valued at $153,659,530 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.