Inspire Advisors LLC Has $806,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Inspire Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,995 shares of the electric vehicle producer’s stock after selling 111 shares during the quarter. Inspire Advisors LLC’s holdings in Tesla were worth $806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Swedbank AB increased its holdings in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Principal Financial Group Inc. increased its stake in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares in the last quarter. United Bank acquired a new stake in Tesla during the 3rd quarter worth approximately $287,000. Meritage Portfolio Management bought a new position in Tesla in the third quarter valued at approximately $221,000. Finally, Patten & Patten Inc. TN boosted its holdings in shares of Tesla by 4.3% in the third quarter. Patten & Patten Inc. TN now owns 3,753 shares of the electric vehicle producer’s stock valued at $982,000 after buying an additional 156 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 3.8 %

Shares of NASDAQ TSLA opened at $230.58 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $741.66 billion, a P/E ratio of 113.03, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The business has a 50-day simple moving average of $360.40 and a two-hundred day simple moving average of $319.53.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TSLA shares. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.43.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock worth $153,659,530 in the last 90 days. 20.70% of the stock is owned by company insiders.

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.