Faithward Advisors LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Faithward Advisors LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 40.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,507 shares of the electric vehicle producer’s stock after acquiring an additional 719 shares during the quarter. Faithward Advisors LLC’s holdings in Tesla were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hengehold Capital Management LLC boosted its holdings in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI boosted its stake in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC grew its holdings in Tesla by 0.9% during 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 in the last quarter. Mount Vernon Associates Inc. MD lifted its holdings in shares of Tesla by 0.3% in 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 buying an additional 25 shares in the last quarter. Finally, Vista Finance LLC boosted its position in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,228 shares of company stock worth $122,791,123 in the last three months. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Piper Sandler decreased their target price on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Bank of America dropped their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Benchmark began coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Eight 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $305.31.

Tesla Price Performance

Shares of Tesla stock opened at $233.29 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a 50 day moving average of $302.70 and a 200 day moving average of $324.17. The firm has a market cap of $750.38 billion, a PE ratio of 114.36, a PEG ratio of 5.86 and a beta of 2.58.

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

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.