TRUE Private Wealth Advisors Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

TRUE Private Wealth Advisors increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,218 shares of the electric vehicle producer’s stock after purchasing an additional 2,165 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Tesla were worth $2,539,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. MidWestOne Financial Group Inc. lifted its stake in shares of Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 15 shares during the last quarter. City State Bank lifted its stake in shares of Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after purchasing an additional 40 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after purchasing an additional 42 shares during the last quarter. Holderness Investments Co. lifted its stake in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the last quarter. Finally, Linscomb & Williams Inc. lifted its stake in shares of Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after purchasing an additional 42 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA traded down $1.41 during mid-day trading on Wednesday, reaching $155.70. 34,807,721 shares of the stock were exchanged, compared to its average volume of 101,242,922. The company has a 50 day simple moving average of $180.88 and a 200-day simple moving average of $213.04. The stock has a market capitalization of $495.87 billion, a P/E ratio of 35.90, a P/E/G ratio of 4.25 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 1 year low of $152.37 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. Analysts anticipate that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TSLA shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. The Goldman Sachs Group decreased their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. KGI Securities reissued a “neutral” rating and set a $213.00 target price (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Finally, Robert W. Baird decreased their target price on Tesla from $300.00 to $280.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 2nd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $198.81.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last quarter. 20.90% of the stock is owned by 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.