Providence Wealth Advisors LLC Has $540,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Providence Wealth Advisors LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,339 shares of the electric vehicle producer’s stock after selling 89 shares during the period. Providence Wealth Advisors LLC’s holdings in Tesla were worth $540,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TSLA. Blair William & Co. IL lifted its stake in Tesla by 12.5% in the fourth quarter. Blair William & Co. IL now owns 274,154 shares of the electric vehicle producer’s stock valued at $110,714,000 after buying an additional 30,380 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Tesla by 1.1% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,851 shares of the electric vehicle producer’s stock valued at $5,594,000 after acquiring an additional 151 shares in the last quarter. Howe & Rusling Inc. lifted its position in shares of Tesla by 7.6% during the 4th quarter. Howe & Rusling Inc. now owns 863 shares of the electric vehicle producer’s stock valued at $349,000 after acquiring an additional 61 shares during the period. AssuredPartners Investment Advisors LLC acquired a new stake in Tesla in the fourth quarter worth $9,607,000. Finally, NEOS Investment Management LLC grew its stake in shares of Tesla by 12.7% in the 4th quarter. NEOS Investment Management LLC now owns 246,926 shares of the electric vehicle producer’s stock valued at $99,719,000 after buying an additional 27,780 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on TSLA shares. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective on the stock in a research note on Wednesday, March 19th. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $318.93.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 5.6 %

NASDAQ:TSLA opened at $272.06 on Thursday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company’s 50-day simple moving average is $327.40 and its 200 day simple moving average is $321.69. The firm has a market capitalization of $875.09 billion, a P/E ratio of 133.36, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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

About Tesla

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.