Fortis Group Advisors LLC Has $2.68 Million Stake in Tesla, Inc. $TSLA

Fortis Group Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 34.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,874 shares of the electric vehicle producer’s stock after buying an additional 1,497 shares during the quarter. Fortis Group Advisors LLC’s holdings in Tesla were worth $2,676,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Relyea Zuckerberg Hanson LLC raised its holdings in shares of Tesla by 0.4% during the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after buying an additional 23 shares in the last quarter. Equita Financial Network Inc. raised its stake in Tesla by 2.8% during the third quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock worth $380,000 after acquiring an additional 23 shares in the last quarter. VanderPol Investments L.L.C. lifted its holdings in shares of Tesla by 2.2% in the third quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock worth $464,000 after acquiring an additional 23 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Tesla by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock valued at $3,814,000 after purchasing an additional 23 shares in the last quarter. Finally, Cloud Capital Management LLC grew its holdings in shares of Tesla by 1.1% during the 3rd quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock valued at $923,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, January 2nd. CICC Research increased their price target on Tesla from $450.00 to $500.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Roth Mkm set a $505.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Dbs Bank raised Tesla to a “hold” rating in a report on Wednesday, November 5th. Finally, Barclays reissued a “neutral” rating on shares of Tesla in a research note on Friday, February 6th. Eighteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $408.09.

Check Out Our Latest Stock Analysis on TSLA

Tesla Price Performance

Shares of TSLA opened at $410.63 on Wednesday. The business has a 50-day moving average of $443.10 and a 200-day moving average of $416.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 380.21, a price-to-earnings-growth ratio of 14.69 and a beta of 1.86. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the sale, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. This represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 119,457 shares of company stock valued at $53,501,145 over the last quarter. Insiders own 19.90% of the company’s stock.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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