Sanctuary Wealth Management L.L.C. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sanctuary Wealth Management L.L.C. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 55.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 369 shares of the electric vehicle producer’s stock after purchasing an additional 131 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in Tesla were worth $149,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. raised its holdings in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Tesla in the fourth quarter valued at about $38,000. Cyrus J. Lawrence LLC purchased a new stake in Tesla in the 4th quarter valued at approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $263.55 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market capitalization of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50-day moving average of $321.33 and a 200-day moving average of $322.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Piper Sandler decreased their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. UBS Group cut their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a report on Monday, March 10th. Robert W. Baird lowered their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $318.34.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction 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 of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 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.