Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance increased its position in Tesla, Inc. (NASDAQ:TSLA) by 18.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 117,176 shares of the electric vehicle producer’s stock after acquiring an additional 18,172 shares during the period. Tesla makes up about 0.6% of Independent Advisor Alliance’s investment portfolio, making the stock its 27th largest position. Independent Advisor Alliance’s holdings in Tesla were worth $47,320,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the third quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the fourth quarter valued at $46,000. PayPay Securities Corp lifted its holdings in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 0.3 %

TSLA stock opened at $262.67 on Monday. The stock has a market capitalization of $844.88 billion, a price-to-earnings ratio of 128.76, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a fifty day moving average price of $367.78 and a 200 day moving average price of $319.38.

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 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%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TSLA shares. UBS Group reaffirmed a “neutral” rating on shares of Tesla in a report on Tuesday, March 4th. Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Truist Financial upped their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company upped their price target on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $327.37.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 422,452 shares of company stock worth $153,659,530. Company insiders own 20.70% of the company’s stock.

Tesla 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.