16,054 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,054 shares of the electric vehicle producer’s stock, valued at approximately $6,483,000. Tesla comprises about 5.7% of Crowley Wealth Management Inc.’s holdings, making the stock its 2nd biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Hengehold Capital Management LLC lifted its position in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI lifted 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 lifted 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 grew its holdings in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the period. Finally, Vista Finance LLC raised its position in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed 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 dated 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 owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of TSLA stock opened at $248.71 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a market capitalization of $799.98 billion, a PE ratio of 121.92, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $335.19 and a 200-day simple moving average of $320.44.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 7.26% and a return on equity of 10.31%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSLA. Piper Sandler cut their price target on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada dropped their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Guggenheim lowered their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target for the company in a report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $318.93.

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.