Fortitude Advisory Group L.L.C. Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fortitude Advisory Group L.L.C. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,198 shares of the electric vehicle producer’s stock after acquiring an additional 100 shares during the period. Tesla accounts for 0.8% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its 21st largest holding. Fortitude Advisory Group L.L.C.’s holdings in Tesla were worth $1,292,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Holderness Investments Co. grew its stake in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after acquiring an additional 42 shares in the last quarter. SCS Capital Management LLC grew its stake in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after acquiring an additional 45 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares in the last quarter. ML & R Wealth Management LLC grew its stake in shares of Tesla by 2.6% in the 3rd quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after buying an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc grew its stake in shares of Tesla by 3.5% in the 3rd quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after buying an additional 46 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TSLA. Royal Bank of Canada dropped their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Morgan Stanley dropped their price objective on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Canaccord Genuity Group dropped their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. TD Cowen dropped their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Finally, UBS Group dropped their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.32.

Tesla Stock Down 1.8 %

Shares of NASDAQ:TSLA traded down $3.29 during trading hours on Wednesday, hitting $179.99. The company’s stock had a trading volume of 92,577,555 shares, compared to its average volume of 105,217,711. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market capitalization of $574.02 billion, a price-to-earnings ratio of 45.96, a P/E/G ratio of 5.28 and a beta of 2.39. The firm’s fifty day moving average price is $174.71 and its 200 day moving average price is $206.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 in the last 90 days. 20.90% of the stock is owned by corporate insiders.

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.