Moran Wealth Management LLC Makes New $1.81 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Moran Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,492 shares of the electric vehicle producer's stock, valued at approximately $1,814,000.

Other institutional investors have also recently made changes to their positions in the company. Main Street Research LLC lifted its stake in Tesla by 14.8% in the fourth quarter. Main Street Research LLC now owns 15,968 shares of the electric vehicle producer's stock worth $6,449,000 after purchasing an additional 2,062 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tesla by 20.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,483,544 shares of the electric vehicle producer's stock worth $599,114,000 after acquiring an additional 252,263 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC purchased a new position in Tesla during the 4th quarter valued at $261,000. Bell Investment Advisors Inc grew its position in Tesla by 1.3% in the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after acquiring an additional 30 shares during the last quarter. Finally, SLT Holdings LLC purchased a new stake in Tesla in the fourth quarter worth $1,932,000. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated a "mixed" rating on shares of Tesla in a report on Saturday, February 8th. The Goldman Sachs Group reaffirmed a "cautious" rating on shares of Tesla in a research report on Monday, March 3rd. Barclays lifted their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 15th. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Finally, Mizuho reissued an "outperform" rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $326.43.

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Tesla Price Performance

Tesla stock opened at $230.58 on Wednesday. The company has a fifty day simple moving average of $360.40 and a 200-day simple moving average of $319.53. The firm has a market capitalization of $741.66 billion, a price-to-earnings ratio of 113.03, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by insiders.

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.

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