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

Crowley Wealth Management Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,054 shares of the electric vehicle producer's stock, valued at approximately $6,483,000. Tesla accounts for approximately 5.7% of Crowley Wealth Management Inc.'s investment portfolio, making the stock its 2nd biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GS Investments Inc. grew its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Cyrus J. Lawrence LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $44,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the fourth quarter worth about $46,000. Parkworth Wealth Management Inc. acquired a new position in shares of Tesla in the fourth quarter worth about $47,000. Finally, PayPay Securities Corp boosted its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer's stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded down $16.08 on Wednesday, hitting $272.06. The company had a trading volume of 151,418,346 shares, compared to its average volume of 91,969,357. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market cap of $875.09 billion, a PE ratio of 133.36, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50-day simple moving average of $330.52 and a 200-day simple moving average of $322.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TSLA. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. cut their price target on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a report on Wednesday, March 12th. Morgan Stanley decreased their price objective on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Mizuho cut their target price on shares of Tesla from $515.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, March 17th. Finally, Evercore ISI lifted their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $318.93.

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.