Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,812 shares of the electric vehicle producer’s stock after purchasing an additional 3,441 shares during the quarter. Wealthspire Advisors LLC’s holdings in Tesla were worth $7,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter worth $25,000. Lam Group Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC raised its position in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Kathleen S. Wright Associates Inc. raised its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the period. Finally, Cordant Inc. acquired a new stake in shares of Tesla during the third quarter worth $53,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s 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 sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 302,803 shares of company stock valued at $56,124,840 in the last quarter. Corporate insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSLA. The Goldman Sachs Group lowered their price target on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Truist Financial lowered their price target on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Wells Fargo & Company lowered their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Canaccord Genuity Group lowered their price target on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $185.90.

Tesla Stock Performance

Tesla stock traded down $3.09 during trading hours on Wednesday, hitting $174.72. The stock had a trading volume of 79,844,724 shares, compared to its average volume of 103,846,883. The company has a 50-day moving average of $173.12 and a two-hundred day moving average of $204.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $557.22 billion, a PE ratio of 44.57, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Tesla Company 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.