Petros Family Wealth LLC Purchases Shares of 3,424 Tesla, Inc. (NASDAQ:TSLA)

Petros Family Wealth LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,424 shares of the electric vehicle producer's stock, valued at approximately $1,383,000. Tesla accounts for about 1.5% of Petros Family Wealth LLC's holdings, making the stock its 16th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after purchasing an additional 194,796 shares during the period. M&T Bank Corp grew its stake in Tesla by 13.3% during the 3rd quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer's stock valued at $89,332,000 after acquiring an additional 39,961 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Tesla by 6.0% during the 3rd quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer's stock worth $890,000 after acquiring an additional 192 shares during the period. Advisory Resource Group lifted its holdings in Tesla by 1.2% in the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer's stock valued at $1,115,000 after acquiring an additional 50 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in Tesla by 46.0% in the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer's stock valued at $2,279,000 after purchasing an additional 2,743 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Glj Research restated a "buy" rating on shares of Tesla in a research note on Tuesday, March 11th. Piper Sandler cut their price objective on shares of Tesla from $450.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday. Mizuho decreased their price target on Tesla from $430.00 to $375.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. StockNews.com downgraded Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $297.03.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $6.71 during midday trading on Wednesday, hitting $247.40. The company had a trading volume of 41,047,281 shares, compared to its average volume of 95,733,386. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The business's 50-day simple moving average is $280.27 and its 200-day simple moving average is $323.03. The stock has a market cap of $795.77 billion, a price-to-earnings ratio of 121.28, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 return on equity of 10.31% and a net margin of 7.26%. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.