Fortis Capital Advisors LLC Has $7.79 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Fortis Capital Advisors LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 28.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,288 shares of the electric vehicle producer’s stock after acquiring an additional 4,303 shares during the quarter. Tesla accounts for 2.6% of Fortis Capital Advisors LLC’s portfolio, making the stock its 8th largest position. Fortis Capital Advisors LLC’s holdings in Tesla were worth $7,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the fourth 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 in 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 acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in Tesla during the fourth quarter valued at approximately $38,000. Delos Wealth Advisors LLC grew its stake in Tesla by 300.0% in 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 stake in shares of Tesla during the 4th quarter worth approximately $44,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. HSBC cut their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. The Goldman Sachs Group decreased their price target on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Evercore ISI raised their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Eight analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $298.59.

Tesla Stock Performance

NASDAQ TSLA opened at $251.96 on Friday. The company has a market capitalization of $810.42 billion, a price-to-earnings ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a fifty day simple moving average of $285.19 and a 200 day simple moving average of $323.09.

Tesla (NASDAQ:TSLA) last issued its quarterly 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%. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by company insiders.

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.