Tradition Wealth Management LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Tradition Wealth Management LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 17.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,818 shares of the electric vehicle producer’s stock after purchasing an additional 1,328 shares during the quarter. Tradition Wealth Management LLC’s holdings in Tesla were worth $3,561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its stake in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in Tesla during the fourth quarter valued at $44,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Morgan Stanley lowered their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Guggenheim cut their target price on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Barclays raised their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $292.18.

Get Our Latest Report on Tesla

Tesla Stock Down 0.2 %

Shares of TSLA stock opened at $241.17 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. The company has a market cap of $775.71 billion, a price-to-earnings ratio of 118.22, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The stock’s fifty day moving average price is $273.93 and its 200 day moving average price is $322.72. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

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

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 374,228 shares of company stock valued at $123,791,123. Company insiders own 20.70% of the company’s stock.

Tesla Company Profile

(Free Report)

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.

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