1620 Investment Advisors Inc. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

1620 Investment Advisors Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 189.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 678 shares of the electric vehicle producer’s stock after acquiring an additional 444 shares during the period. 1620 Investment Advisors Inc.’s holdings in Tesla were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GS Investments Inc. grew its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla during the 4th quarter valued at about $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla during the 4th quarter valued at about $47,000. PayPay Securities Corp grew its position in shares of 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 during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla during the 4th quarter valued at about $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Tesla stock opened at $236.26 on Friday. 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 stock’s 50 day moving average price is $338.11 and its two-hundred day moving average price is $319.44. The stock has a market capitalization of $759.93 billion, a price-to-earnings ratio of 115.81, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced 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 analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on TSLA shares. Piper Sandler decreased their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. UBS Group reduced their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $319.56.

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.