Sovereign Financial Group Inc. Acquires 118 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sovereign Financial Group Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,974 shares of the electric vehicle producer’s stock after purchasing an additional 118 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Tesla were worth $490,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. raised its position in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after purchasing an additional 3,453,078 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock valued at $2,260,039,000 after purchasing an additional 2,293,344 shares in the last quarter. Morgan Stanley lifted its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after acquiring an additional 909,170 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. HSBC reduced their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Redburn Atlantic initiated coverage on Tesla in a report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Finally, Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $185.90.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’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 value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were 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 of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,803 shares of company stock worth $56,124,840. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock traded down $6.95 on Tuesday, hitting $177.81. 74,627,156 shares of the company’s stock were exchanged, compared to its average volume of 104,115,875. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market capitalization of $567.07 billion, a PE ratio of 45.36, a PEG ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a 50-day simple moving average of $173.12 and a 200-day simple moving average of $204.32.

Tesla Company 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.