SlateStone Wealth LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

SlateStone Wealth LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 50.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,697 shares of the electric vehicle producer’s stock after buying an additional 3,269 shares during the period. SlateStone Wealth LLC’s holdings in Tesla were worth $2,410,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. National Wealth Management Group LLC grew its stake in Tesla by 16.0% in the 4th quarter. National Wealth Management Group LLC now owns 9,180 shares of the electric vehicle producer’s stock worth $2,281,000 after acquiring an additional 1,268 shares in the last quarter. Larson Financial Group LLC boosted its position in Tesla by 8.9% during the fourth quarter. Larson Financial Group LLC now owns 13,466 shares of the electric vehicle producer’s stock worth $3,346,000 after acquiring an additional 1,097 shares during the last quarter. PDS Planning Inc boosted its holdings in Tesla by 4.5% in the 4th quarter. PDS Planning Inc now owns 12,185 shares of the electric vehicle producer’s stock valued at $3,028,000 after purchasing an additional 529 shares during the last quarter. RWA Wealth Partners LLC lifted its holdings in shares of Tesla by 1,075.1% in the 4th quarter. RWA Wealth Partners LLC now owns 28,836 shares of the electric vehicle producer’s stock worth $7,165,000 after acquiring an additional 26,382 shares during the last quarter. Finally, Monument Capital Management increased its stake in Tesla by 11.9% during the 4th quarter. Monument Capital Management now owns 1,057 shares of the electric vehicle producer’s stock worth $263,000 after buying an additional 112 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 11.8 %

TSLA traded up $17.06 during midday trading on Wednesday, hitting $161.74. The company’s stock had a trading volume of 34,420,961 shares, compared to its average volume of 101,054,664. The firm has a 50-day moving average price of $176.81 and a two-hundred day moving average price of $209.24. The firm has a market cap of $515.11 billion, a P/E ratio of 37.09, a PEG ratio of 3.75 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday. Redburn Atlantic initiated coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. Citigroup dropped their price objective on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered Tesla from a “buy” rating to a “hold” rating and lowered their price target for the stock from $189.00 to $123.00 in a research report on Thursday, April 18th. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $187.67.

Read Our Latest Research Report on Tesla

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 20.90% of the company’s stock.

Tesla Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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