Xcel Wealth Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Xcel Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLAFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 9,293 shares of the electric vehicle producer’s stock, valued at approximately $2,309,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mount Vernon Associates Inc. MD raised its stake in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the last quarter. Oak Ridge Investments LLC grew its holdings in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares during the last quarter. Charter Oak Capital Management LLC grew its holdings in shares of Tesla by 8.9% during the third quarter. Charter Oak Capital Management LLC now owns 1,271 shares of the electric vehicle producer’s stock valued at $318,000 after buying an additional 104 shares during the last quarter. CWM LLC grew its holdings in shares of Tesla by 14.4% during the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock valued at $36,717,000 after buying an additional 18,462 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after buying an additional 25,943 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’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 completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. TD Cowen reduced their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Barclays dropped their price target on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 25th. The Goldman Sachs Group dropped their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday. Mizuho reissued a “neutral” rating and set a $195.00 price target (down from $270.00) on shares of Tesla in a research report on Monday, March 25th. Finally, Robert W. Baird dropped their price target on shares of Tesla from $300.00 to $280.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 2nd. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $198.81.

Read Our Latest Research Report on TSLA

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $3.55 during midday trading on Friday, hitting $171.05. The company’s stock had a trading volume of 64,512,828 shares, compared to its average volume of 102,285,711. The stock has a fifty day moving average price of $182.17 and a 200 day moving average price of $215.21. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $544.76 billion, a price-to-earnings ratio of 39.87, a P/E/G ratio of 3.49 and a beta of 2.39.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.2 EPS for the current fiscal year.

Tesla 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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