Soltis Investment Advisors LLC Buys 13,654 Shares of Tesla, Inc. (NASDAQ:TSLA)

Soltis Investment Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 113.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,658 shares of the electric vehicle producer’s stock after acquiring an additional 13,654 shares during the quarter. Tesla makes up 1.0% of Soltis Investment Advisors LLC’s holdings, making the stock its 19th biggest holding. Soltis Investment Advisors LLC’s holdings in Tesla were worth $10,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TSLA. Wedge Capital Management L L P NC increased its holdings in Tesla by 18.2% in the third quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock worth $651,000 after purchasing an additional 384 shares in the last quarter. Creative Planning increased its holdings in Tesla by 28.3% in the third quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock worth $221,677,000 after purchasing an additional 197,839 shares in the last quarter. Swedbank AB increased its holdings in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Tesla by 19.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,700 shares of the electric vehicle producer’s stock worth $3,584,000 after purchasing an additional 2,190 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its holdings in Tesla by 59.9% in the third quarter. Wolff Wiese Magana LLC now owns 3,135 shares of the electric vehicle producer’s stock worth $820,000 after purchasing an additional 1,175 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSLA shares. Wedbush raised their price objective on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Piper Sandler raised their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Barclays raised their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $326.50.

Tesla Stock Performance

Shares of TSLA opened at $355.94 on Friday. The firm has a market cap of $1.14 trillion, a PE ratio of 174.48, a PEG ratio of 6.22 and a beta of 2.34. The stock’s fifty day moving average price is $407.25 and its two-hundred day moving average price is $306.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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, equities research analysts forecast that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Activity at Tesla

In related 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 transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by company insiders.

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.