Valmark Advisers Inc. Has $2.65 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Valmark Advisers Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,652 shares of the electric vehicle producer’s stock after acquiring an additional 135 shares during the period. Valmark Advisers Inc.’s holdings in Tesla were worth $2,647,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of Tesla by 73.8% in the third quarter. Exchange Traded Concepts LLC now owns 7,430 shares of the electric vehicle producer’s stock valued at $1,859,000 after buying an additional 3,156 shares in the last quarter. Connecticut Wealth Management LLC raised its position in shares of Tesla by 12.5% in the third quarter. Connecticut Wealth Management LLC now owns 5,306 shares of the electric vehicle producer’s stock valued at $1,328,000 after buying an additional 591 shares in the last quarter. Derbend Asset Management raised its position in shares of Tesla by 0.3% in the third quarter. Derbend Asset Management now owns 18,864 shares of the electric vehicle producer’s stock valued at $4,720,000 after buying an additional 54 shares in the last quarter. Sterling Investment Counsel LLC increased its stake in Tesla by 140.4% in the third quarter. Sterling Investment Counsel LLC now owns 5,193 shares of the electric vehicle producer’s stock valued at $1,299,000 after acquiring an additional 3,033 shares during the last quarter. Finally, Ogorek Anthony Joseph NY ADV increased its stake in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.1 %

TSLA stock traded down $1.89 during trading on Friday, reaching $168.29. The stock had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $175.04 and its two-hundred day moving average is $208.00. The company has a market capitalization of $536.71 billion, a price-to-earnings ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TSLA shares. Canaccord Genuity Group decreased their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group decreased their target price on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Tesla in a research note on Friday, April 19th. KGI Securities reaffirmed a “neutral” rating and set a $213.00 target price (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Wednesday, April 17th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $186.70.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the 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 directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’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 directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred 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 owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last three months. Company insiders own 25.10% of the company’s stock.

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.