SoundView Advisors Inc. Acquires Shares of 959 Tesla, Inc. (NASDAQ:TSLA)

SoundView Advisors Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 959 shares of the electric vehicle producer’s stock, valued at approximately $387,000. Tesla accounts for 0.2% of SoundView Advisors Inc.’s portfolio, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla during the 4th quarter worth about $46,000. PayPay Securities Corp grew its stake in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $222.15 on Tuesday. The firm’s 50-day moving average is $363.87 and its 200-day moving average is $319.46. The company has a market cap of $714.55 billion, a price-to-earnings ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50. 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.

Tesla (NASDAQ:TSLA) last issued its quarterly 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%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $25,466,850. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus reduced their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $326.31.

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.