Birchcreek Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Birchcreek Wealth Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 854 shares of the electric vehicle producer’s stock, valued at approximately $212,000.

Several other institutional investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its position in shares of Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares during the period. Morgan Stanley boosted its position in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. FMR LLC increased its holdings in shares of Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after acquiring an additional 269,182 shares during the period. Northern Trust Corp lifted its stake in shares of Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Tesla by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock valued at $3,677,502,000 after purchasing an additional 496,299 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $187.69 on Tuesday. The company has a 50 day moving average price of $174.92 and a 200-day moving average price of $206.77. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The firm has a market cap of $598.58 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Citigroup raised their target price on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Redburn Atlantic initiated coverage on Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Finally, Guggenheim reiterated a “sell” rating and issued a $122.00 price target on shares of Tesla in a research note on Tuesday, April 23rd. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $184.32.

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.