Signature Estate & Investment Advisors LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Signature Estate & Investment Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,316 shares of the electric vehicle producer’s stock after acquiring an additional 91 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Tesla were worth $5,781,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. raised its position in shares of 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 last quarter. CoreFirst Bank & Trust purchased a new position in Tesla in the 4th quarter valued at about $38,000. Cyrus J. Lawrence LLC purchased a new stake in Tesla during the 4th quarter worth approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla during the fourth quarter valued at approximately $46,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lowered their price target on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Guggenheim decreased their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Truist Financial boosted their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $318.93.

Tesla Stock Up 11.9 %

Shares of NASDAQ:TSLA opened at $278.39 on Tuesday. The firm’s 50-day moving average is $332.69 and its two-hundred day moving average is $321.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market capitalization of $895.45 billion, a PE ratio of 136.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value 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. The trade was 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, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last three months. 20.70% of the stock is owned by corporate insiders.

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.