Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $26.01 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 64,393 shares of the electric vehicle producer's stock after buying an additional 3,626 shares during the period. Tesla comprises about 0.7% of Empirical Financial Services LLC d.b.a. Empirical Wealth Management's portfolio, making the stock its 26th largest holding. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Tesla were worth $26,005,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Quarry LP acquired a new stake in Tesla in the 2nd quarter valued at $48,000. Clearbridge Investments LLC grew its position in shares of Tesla by 9.1% in the second quarter. Clearbridge Investments LLC now owns 1,207,779 shares of the electric vehicle producer's stock valued at $238,995,000 after purchasing an additional 101,114 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Tesla during the second quarter worth about $807,000. Creekside Partners purchased a new position in Tesla in the 2nd quarter valued at about $476,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Tesla in the second quarter valued at approximately $45,548,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Piper Sandler raised their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Glj Research restated a "sell" rating and issued a $24.86 target price on shares of Tesla in a report on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on shares of Tesla from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $317.28.

Tesla Stock Performance

Shares of Tesla stock traded up $9.92 during trading on Thursday, hitting $399.02. 58,994,655 shares of the company's stock traded hands, compared to its average volume of 72,967,914. The business has a 50-day simple moving average of $401.98 and a 200-day simple moving average of $297.28. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 109.21, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. As a group, analysts forecast that Tesla, Inc. will post 2.01 EPS for the current year.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 in the last ninety days. Company insiders own 20.70% of the company's stock.

About Tesla

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.