Forvis Mazars Wealth Advisors LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Forvis Mazars Wealth Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,308 shares of the electric vehicle producer’s stock after buying an additional 1,828 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Tesla were worth $3,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TSLA. World Investment Advisors LLC boosted its position in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management boosted its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Stephens Consulting LLC boosted its position in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. Vinva Investment Management Ltd boosted its position in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $302.80 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $973.96 billion, a PE ratio of 148.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock’s 50 day moving average price is $393.98 and its 200-day moving average price is $315.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Truist Financial boosted their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group boosted their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $319.57.

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.