Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 280,932 shares of the electric vehicle producer's stock after acquiring an additional 36,725 shares during the quarter. Tesla accounts for 0.7% of NewEdge Advisors LLC's investment portfolio, making the stock its 22nd largest position. NewEdge Advisors LLC's holdings in Tesla were worth $112,977,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. grew its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC lifted its position in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock worth $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new position in shares of Tesla in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Tesla stock traded down $0.39 during midday trading on Friday, reaching $241.17. 83,173,157 shares of the company were exchanged, compared to its average volume of 96,033,445. The company has a market capitalization of $775.71 billion, a price-to-earnings ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm's 50-day simple moving average is $273.93 and its 200-day simple moving average is $322.72. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

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

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. Robert W. Baird reduced their target price on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft dropped their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Monday, February 10th. Finally, HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $292.18.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last quarter. 20.70% of the stock is currently owned by company insiders.

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.