Ballast Advisors LLC Buys 1,067 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ballast Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 30.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,537 shares of the electric vehicle producer’s stock after purchasing an additional 1,067 shares during the quarter. Ballast Advisors LLC’s holdings in Tesla were worth $1,127,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Tesla during the fourth quarter worth $3,459,540,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Tesla by 203.9% in the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after purchasing an additional 13,558,882 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Tesla by 26.3% in the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after buying an additional 5,292,464 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday. Canaccord Genuity Group dropped their target price on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Barclays decreased their price target on Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a research note on Thursday, January 25th. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Finally, Mizuho reaffirmed a “neutral” rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a report on Monday, March 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $198.81.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last quarter. 20.90% of the stock is owned by insiders.

Tesla Stock Performance

NASDAQ TSLA traded down $4.58 during trading hours on Monday, hitting $166.47. The company had a trading volume of 43,445,990 shares, compared to its average volume of 101,444,258. The business has a 50 day moving average of $181.83 and a 200-day moving average of $214.30. The company has a market cap of $530.17 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 1.98 EPS for the current 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.