Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Colonial River Wealth Management LLC

Colonial River Wealth Management LLC raised its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 90.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,238 shares of the electric vehicle producer’s stock after buying an additional 3,439 shares during the period. Tesla comprises about 1.1% of Colonial River Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Colonial River Wealth Management LLC’s holdings in Tesla were worth $1,798,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSLA. Physician Wealth Advisors Inc. boosted its holdings in shares of Tesla by 3.4% during the 4th quarter. Physician Wealth Advisors Inc. now owns 5,341 shares of the electric vehicle producer’s stock worth $1,327,000 after purchasing an additional 174 shares during the last quarter. RPg Family Wealth Advisory LLC increased its holdings in Tesla by 9.0% in the fourth quarter. RPg Family Wealth Advisory LLC now owns 3,021 shares of the electric vehicle producer’s stock valued at $751,000 after buying an additional 250 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its stake in Tesla by 4.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 26,125 shares of the electric vehicle producer’s stock valued at $6,492,000 after acquiring an additional 1,154 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after acquiring an additional 48 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in shares of Tesla during the fourth quarter worth about $7,052,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Truist Financial dropped their price objective on shares of Tesla from $227.00 to $193.00 and set a “hold” rating on the stock in a research note on Thursday, January 25th. Edward Jones cut shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Wells Fargo & Company reissued an “underweight” rating and set a $125.00 target price on shares of Tesla in a research note on Monday. Finally, Robert W. Baird reduced their price target on shares of Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a research report on Tuesday. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $203.89.

View Our Latest Stock Report on TSLA

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock valued at $36,952,434 over the last 90 days. 20.90% of the stock is owned by corporate insiders.

Tesla Trading Down 4.9 %

Shares of NASDAQ:TSLA traded down $8.59 during trading on Tuesday, hitting $166.63. 116,441,580 shares of the company’s stock were exchanged, compared to its average volume of 102,568,922. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The firm has a 50-day moving average price of $185.65 and a two-hundred day moving average price of $219.67. The firm has a market cap of $530.68 billion, a P/E ratio of 38.66, a PEG ratio of 3.97 and a beta of 2.40.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. Equities analysts predict that Tesla, Inc. will post 2.44 earnings per share for the current year.

Tesla Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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