IVC Wealth Advisors LLC Buys 289 Shares of Tesla, Inc. (NASDAQ:TSLA)

IVC Wealth Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,615 shares of the electric vehicle producer’s stock after acquiring an additional 289 shares during the period. IVC Wealth Advisors LLC’s holdings in Tesla were worth $678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vista Finance LLC increased its holdings in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. Prospect Financial Services LLC boosted its position in shares of Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after buying an additional 26 shares during the last quarter. Jmac Enterprises LLC increased its holdings in Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after buying an additional 26 shares in the last quarter. TFB Advisors LLC raised its position in Tesla by 0.5% in the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after buying an additional 27 shares during the last quarter. Finally, Vista Capital Partners Inc. lifted its stake in Tesla by 1.4% during the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after acquiring an additional 27 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Mizuho increased their price target on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Morgan Stanley reaffirmed a “buy” rating and issued a $430.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Finally, Canaccord Genuity Group reduced their price objective on Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $293.97.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock valued at $320,019,942 in the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $349.09 on Friday. The company has a market cap of $1.12 trillion, a P/E ratio of 171.12, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm’s fifty day moving average is $286.92 and its two-hundred day moving average is $333.95.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.