Naviter Wealth LLC Acquires 5,840 Shares of Tesla, Inc. (NASDAQ:TSLA)

Naviter Wealth LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 45.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,671 shares of the electric vehicle producer’s stock after buying an additional 5,840 shares during the period. Naviter Wealth LLC’s holdings in Tesla were worth $3,282,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Holderness Investments Co. boosted its position in shares of Tesla by 1.6% during the 3rd 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 holdings in Tesla by 0.4% during 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 purchasing an additional 45 shares in the last quarter. Cravens & Co Advisors LLC grew its stake in shares of Tesla by 1.2% in the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after purchasing an additional 48 shares during the period. Patten & Patten Inc. TN raised its holdings in shares of Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after buying an additional 48 shares in the last quarter. Finally, Caerus Investment Advisors LLC lifted its position in shares of Tesla by 0.3% during the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after buying an additional 49 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s 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 sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TSLA. Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Tesla in a research note on Monday. Royal Bank of Canada cut their target price on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Finally, Evercore ISI decreased their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, April 29th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $187.30.

Tesla Stock Up 10.2 %

Shares of NASDAQ TSLA traded up $21.40 during midday trading on Tuesday, hitting $231.26. 202,700,192 shares of the stock traded hands, compared to its average volume of 96,511,578. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The business has a 50 day moving average price of $179.16 and a two-hundred day moving average price of $191.09. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a market cap of $737.53 billion, a PE ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $22.15 billion. On average, equities analysts predict that Tesla, Inc. will post 1.86 EPS for the current year.

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.