Steward Partners Investment Advisory LLC Acquires 9,840 Shares of Tesla, Inc. (NASDAQ:TSLA)

Steward Partners Investment Advisory LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 105,856 shares of the electric vehicle producer’s stock after purchasing an additional 9,840 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Tesla were worth $42,749,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Resolute Wealth Strategies LLC acquired a new position in Tesla in the fourth quarter worth about $342,000. Unified Investment Management bought a new stake in shares of Tesla in the 4th quarter valued at approximately $218,000. Schechter Investment Advisors LLC raised its holdings in shares of Tesla by 4.5% in the 4th quarter. Schechter Investment Advisors LLC now owns 12,673 shares of the electric vehicle producer’s stock worth $5,118,000 after buying an additional 548 shares in the last quarter. Bravias Capital Group LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $379,000. Finally, Wernau Asset Management Inc. acquired a new stake in Tesla in the 4th quarter valued at $1,609,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 4.4 %

NASDAQ:TSLA opened at $272.11 on Wednesday. The stock’s fifty day simple moving average is $378.63 and its 200-day simple moving average is $318.40. The firm has a market capitalization of $875.24 billion, a P/E ratio of 133.39, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,996 shares of company stock worth $118,467,387. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Morgan Stanley reiterated a “top pick” rating and set a $430.00 price objective on shares of Tesla in a research note on Monday. Evercore ISI lifted their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have issued a strong 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 $315.33.

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.