Archford Capital Strategies LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Archford Capital Strategies LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,930 shares of the electric vehicle producer’s stock after acquiring an additional 161 shares during the period. Archford Capital Strategies LLC’s holdings in Tesla were worth $779,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Tesla in the 2nd quarter valued at $48,000. Kimelman & Baird LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at about $74,000. Truist Financial Corp grew its stake in Tesla by 5.0% during the 2nd quarter. Truist Financial Corp now owns 604,935 shares of the electric vehicle producer’s stock worth $119,705,000 after buying an additional 28,650 shares during the last quarter. Advisory Alpha LLC lifted its stake in Tesla by 13.5% in the second quarter. Advisory Alpha LLC now owns 13,305 shares of the electric vehicle producer’s stock valued at $2,633,000 after buying an additional 1,578 shares during the last quarter. Finally, Ted Buchan & Co acquired a new stake in shares of Tesla in the second quarter valued at approximately $308,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSLA. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. Morgan Stanley upped their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Piper Sandler increased their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Finally, HSBC reissued a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $313.84.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 617,886 shares of company stock valued at $212,451,751. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $398.31 on Wednesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The business’s 50-day moving average price is $399.99 and its 200 day moving average price is $295.57. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.28 trillion, a PE ratio of 109.13, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

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.