United Capital Financial Advisors LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

United Capital Financial Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,136 shares of the electric vehicle producer’s stock after purchasing an additional 879 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Tesla were worth $34,785,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Integrity Wealth Advisors Inc. purchased a new position in shares of Tesla during the fourth quarter worth approximately $826,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Tesla in the fourth quarter worth $363,000. Gamco Investors INC. ET AL grew its stake in shares of Tesla by 1.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 15,335 shares of the electric vehicle producer’s stock valued at $6,193,000 after buying an additional 199 shares during the last quarter. Gabelli Funds LLC purchased a new stake in Tesla during the 4th quarter valued at about $256,000. Finally, Jump Financial LLC lifted its position in Tesla by 25.2% in the fourth quarter. Jump Financial LLC now owns 185,637 shares of the electric vehicle producer’s stock valued at $74,968,000 after purchasing an additional 37,329 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $252.35 on Tuesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market capitalization of $811.69 billion, a price-to-earnings ratio of 123.70, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $282.67 and a 200 day moving average of $323.51.

Tesla (NASDAQ:TSLA) last released its 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 net margin of 7.26% and a return on equity of 10.31%. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This represents a 12.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,228 shares of company stock worth $123,791,123. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Robert W. Baird dropped their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Evercore ISI increased their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Guggenheim cut their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $298.59.

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.