Wealthspire Advisors LLC Has $13.84 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Wealthspire Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,258 shares of the electric vehicle producer’s stock after purchasing an additional 8,890 shares during the quarter. Wealthspire Advisors LLC’s holdings in Tesla were worth $13,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. New England Capital Financial Advisors LLC grew its holdings in shares of Tesla by 2.6% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,195 shares of the electric vehicle producer’s stock valued at $483,000 after buying an additional 30 shares during the period. Rainey & Randall Wealth Advisors Inc. bought a new position in Tesla during the fourth quarter worth about $207,000. Lutz Financial Services LLC acquired a new position in Tesla in the fourth quarter valued at about $235,000. Kooman & Associates increased its holdings in shares of Tesla by 2.4% in the fourth quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock worth $480,000 after acquiring an additional 28 shares in the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of Tesla during the fourth quarter worth about $817,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

TSLA opened at $302.80 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. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business has a 50 day moving average of $393.98 and a 200-day moving average of $315.69. The stock has a market cap of $973.96 billion, a price-to-earnings ratio of 148.43, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Benchmark began coverage on Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Stifel Nicolaus dropped their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $319.57.

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.