Fortis Capital Advisors LLC Has $490,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fortis Capital Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 92.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,970 shares of the electric vehicle producer's stock after selling 23,794 shares during the period. Fortis Capital Advisors LLC's holdings in Tesla were worth $490,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. WealthPlan Investment Management LLC raised its position in shares of Tesla by 20,641.9% during the third quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer's stock worth $3,218,000 after purchasing an additional 12,798 shares during the period. NBC Securities Inc. acquired a new position in Tesla during the third quarter valued at $646,000. Wilbanks Smith & Thomas Asset Management LLC raised its position in Tesla by 3.4% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 7,623 shares of the electric vehicle producer's stock valued at $1,907,000 after buying an additional 253 shares during the period. NTV Asset Management LLC raised its position in Tesla by 29.2% during the third quarter. NTV Asset Management LLC now owns 2,001 shares of the electric vehicle producer's stock valued at $501,000 after buying an additional 452 shares during the period. Finally, Curi Wealth Management LLC raised its position in Tesla by 9.0% during the third quarter. Curi Wealth Management LLC now owns 961 shares of the electric vehicle producer's stock valued at $240,000 after buying an additional 79 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company's stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company's stock, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,097 shares of company stock worth $37,877,471. 25.10% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA traded up $5.50 during mid-day trading on Friday, hitting $179.24. 65,584,478 shares of the company's stock traded hands, compared to its average volume of 91,189,992. The firm has a 50 day moving average of $171.69 and a two-hundred day moving average of $201.13. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The firm has a market capitalization of $571.63 billion, a price-to-earnings ratio of 45.72, a price-to-earnings-growth ratio of 4.26 and a beta of 2.41. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. On average, equities analysts forecast that Tesla, Inc. will post 1.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on TSLA shares. Piper Sandler reissued an "overweight" rating and set a $205.00 price target on shares of Tesla in a research report on Monday, April 22nd. Evercore ISI dropped their price target on Tesla from $155.00 to $145.00 and set an "in-line" rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada dropped their target price on Tesla from $294.00 to $293.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 24th. China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They issued a "hold" rating on the stock. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $185.90.

Tesla Company 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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