Tesla, Inc. (NASDAQ:TSLA) Stake Lifted by Bridgewealth Advisory Group LLC

Bridgewealth Advisory Group LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 233.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,774 shares of the electric vehicle producer’s stock after acquiring an additional 5,442 shares during the quarter. Tesla makes up about 0.9% of Bridgewealth Advisory Group LLC’s holdings, making the stock its 29th biggest holding. Bridgewealth Advisory Group LLC’s holdings in Tesla were worth $3,139,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC grew its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank acquired a new position in Tesla in the 4th quarter worth $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Robert W. Baird dropped their price target on Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $287.46.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $292.03 on Wednesday. The stock has a market capitalization of $940.62 billion, a PE ratio of 143.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. 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 firm’s 50 day moving average price is $261.24 and its 200-day moving average price is $323.87. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia purchased 4,000 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the transaction, the director now owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This trade represents a 3,603.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. 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.