Evolution Wealth Advisors LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Evolution Wealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 51.0% in the first quarter, Holdings Channel reports. The institutional investor owned 5,646 shares of the electric vehicle producer’s stock after acquiring an additional 1,906 shares during the period. Evolution Wealth Advisors LLC’s holdings in Tesla were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Holderness Investments Co. raised its holdings in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after acquiring an additional 42 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after buying an additional 45 shares during the last quarter. Cravens & Co Advisors LLC boosted its position in Tesla by 1.2% in the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after buying an additional 48 shares during the last quarter. Patten & Patten Inc. TN boosted its position in Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after buying an additional 48 shares during the last quarter. Finally, Caerus Investment Advisors LLC boosted its position in Tesla by 0.3% in the fourth quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after buying an additional 49 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TSLA. Guggenheim upped their target price on Tesla from $126.00 to $134.00 and gave the company a “sell” rating in a research report on Wednesday. New Street Research reissued a “buy” rating and issued a $235.00 price target on shares of Tesla in a report on Tuesday, June 25th. Truist Financial reaffirmed a “hold” rating and set a $162.00 target price on shares of Tesla in a research note on Wednesday. Wedbush upped their target price on Tesla from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, HSBC reduced their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $189.47.

Tesla Trading Up 6.5 %

Shares of NASDAQ TSLA traded up $15.13 during mid-day trading on Wednesday, reaching $246.39. 164,907,094 shares of the company’s stock were exchanged, compared to its average volume of 97,060,453. The firm has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 4.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company’s 50-day moving average is $180.89 and its 200-day moving average is $190.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Analysts expect that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following 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 filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated 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 sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate 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.