Washington Trust Advisors Inc. Acquires 518 Shares of Tesla, Inc. (NASDAQ:TSLA)

Washington Trust Advisors Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 34.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,033 shares of the electric vehicle producer’s stock after purchasing an additional 518 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Tesla were worth $505,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TSLA. Bouchey Financial Group Ltd increased its holdings in Tesla by 3.4% during the 4th quarter. Bouchey Financial Group Ltd now owns 2,633 shares of the electric vehicle producer’s stock worth $654,000 after purchasing an additional 87 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in Tesla by 30.0% during the fourth quarter. WASHINGTON TRUST Co now owns 2,421 shares of the electric vehicle producer’s stock worth $602,000 after purchasing an additional 559 shares during the last quarter. Procyon Advisors LLC grew its position in Tesla by 0.7% in the fourth quarter. Procyon Advisors LLC now owns 33,170 shares of the electric vehicle producer’s stock valued at $8,242,000 after purchasing an additional 231 shares in the last quarter. First National Corp MA ADV increased its position in shares of Tesla by 30.0% during the 4th quarter. First National Corp MA ADV now owns 1,401 shares of the electric vehicle producer’s stock worth $348,000 after purchasing an additional 323 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new stake in Tesla in the fourth quarter valued at $134,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 1.7 %

Tesla stock traded down $3.06 during trading hours on Thursday, hitting $176.77. 58,133,499 shares of the stock traded hands, compared to its average volume of 102,331,883. The company has a market cap of $562.98 billion, a PE ratio of 41.23, a PEG ratio of 4.01 and a beta of 2.41. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $188.49 and its two-hundred day moving average price is $222.36. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 2.44 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler reduced their target price on Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 5th. Truist Financial cut their price objective on shares of Tesla from $227.00 to $193.00 and set a “hold” rating for the company in a research report on Thursday, January 25th. The Goldman Sachs Group decreased their price target on Tesla from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. TD Cowen decreased their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Finally, Barclays reduced their price objective on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $204.63.

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.