Artemis Wealth Advisors LLC Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Artemis Wealth Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the electric vehicle producer’s stock, valued at approximately $4,038,000. Tesla accounts for about 0.7% of Artemis Wealth Advisors LLC’s portfolio, making the stock its 13th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC increased its stake in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Wellington Management Group LLP raised its holdings in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $281.95 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company’s fifty day moving average is $387.91 and its 200-day moving average is $315.28. The firm has a market cap of $906.90 billion, a price-to-earnings ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted 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%. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Mizuho reissued an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Piper Sandler increased their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $319.57.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’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 transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

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.