GWN Securities Inc. Purchases Shares of 8,688 Tesla, Inc. (NASDAQ:TSLA)

GWN Securities Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,688 shares of the electric vehicle producer’s stock, valued at approximately $3,527,000. Tesla makes up approximately 0.9% of GWN Securities Inc.’s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Strategic Financial Concepts LLC lifted its stake in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after buying an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday. Benchmark began coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Piper Sandler upped their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. New Street Research upgraded 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. Finally, TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $325.65.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 3.9 %

Shares of TSLA stock opened at $249.98 on Friday. The stock’s fifty day moving average price is $351.31 and its 200 day moving average price is $319.51. 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, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market cap of $804.06 billion, a price-to-earnings ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share 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.