Lowe Wealth Advisors LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Lowe Wealth Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 52.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 315 shares of the electric vehicle producer’s stock after purchasing an additional 109 shares during the quarter. Lowe Wealth Advisors LLC’s holdings in Tesla were worth $127,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TSLA. Valley Wealth Managers Inc. purchased a new position in Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter valued at approximately $29,000. Clean Yield Group increased its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in Tesla during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,886 shares of company stock worth $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler boosted their price objective on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $0.20 during midday trading on Friday, hitting $394.74. The stock had a trading volume of 61,427,888 shares, compared to its average volume of 82,911,898. The company has a market capitalization of $1.27 trillion, a PE ratio of 108.15, a P/E/G ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a 50 day moving average price of $373.68 and a two-hundred day moving average price of $279.12. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.