Brio Consultants LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Brio Consultants LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 753 shares of the electric vehicle producer’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. World Investment Advisors LLC grew its position in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management grew its position in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd grew its position in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares in the last quarter. MML Investors Services LLC lifted its stake in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Morgan Stanley raised their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Piper Sandler lifted 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. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $318.31.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock valued at $196,305,796 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $392.21 on Wednesday. The company has a fifty day moving average price of $405.12 and a two-hundred day moving average price of $300.65. 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. The firm has a market capitalization of $1.26 trillion, a PE ratio of 192.26, a P/E/G ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced 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%. As a group, analysts anticipate that Tesla, Inc. will post 2.82 earnings per share for the current year.

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.