FORVIS Wealth Advisors LLC Buys 4,640 Shares of Tesla, Inc. (NASDAQ:TSLA)

FORVIS Wealth Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 82.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,264 shares of the electric vehicle producer’s stock after acquiring an additional 4,640 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Tesla were worth $1,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter worth about $7,844,757,000. International Assets Investment Management LLC grew its holdings in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after buying an additional 1,402,443 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.1 %

Shares of NASDAQ:TSLA traded down $0.17 during trading on Friday, reaching $246.22. The stock had a trading volume of 45,596,381 shares, compared to its average volume of 96,581,453. The firm’s 50-day simple moving average is $184.10 and its 200 day simple moving average is $191.70. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a market capitalization of $785.24 billion, a P/E ratio of 62.85, a PEG ratio of 6.11 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. As a group, research analysts expect that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Truist Financial reissued a “hold” rating and issued a $162.00 target price on shares of Tesla in a report on Wednesday. Wedbush upped their price target on shares of Tesla from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $192.71.

About Tesla

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.