Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,831 shares of the electric vehicle producer’s stock after acquiring an additional 1,669 shares during the period. Naviter Wealth LLC’s holdings in Tesla were worth $3,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. My Legacy Advisors LLC increased its holdings in shares of Tesla by 33.4% in the 3rd quarter. My Legacy Advisors LLC now owns 1,238 shares of the electric vehicle producer’s stock valued at $310,000 after acquiring an additional 310 shares during the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of Tesla by 23.5% in the 3rd quarter. Global Wealth Strategies & Associates now owns 1,403 shares of the electric vehicle producer’s stock valued at $351,000 after buying an additional 267 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Tesla by 8.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,216 shares of the electric vehicle producer’s stock valued at $2,056,000 after buying an additional 614 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in Tesla by 5.1% in the third quarter. Atlantic Union Bankshares Corp now owns 13,683 shares of the electric vehicle producer’s stock valued at $3,424,000 after acquiring an additional 662 shares during the last quarter. Finally, Brookstone Capital Management boosted its stake in Tesla by 23.4% in the third quarter. Brookstone Capital Management now owns 87,788 shares of the electric vehicle producer’s stock valued at $21,966,000 after acquiring an additional 16,626 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Wells Fargo & Company lowered their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Wedbush reiterated an “outperform” rating and issued a $275.00 price target on shares of Tesla in a research report on Monday. Finally, Redburn Atlantic started coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $184.32.

Tesla Price Performance

NASDAQ TSLA traded up $24.63 during mid-day trading on Monday, hitting $192.92. The stock had a trading volume of 195,314,635 shares, compared to its average volume of 104,423,578. The company has a 50 day simple moving average of $175.04 and a 200 day simple moving average of $207.22. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $615.26 billion, a price-to-earnings ratio of 48.47, a P/E/G ratio of 4.45 and a beta of 2.40. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last 90 days. 20.90% of the stock is currently owned by corporate insiders.

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.