Potentia Wealth Acquires Shares of 10,353 Tesla, Inc. (NASDAQ:TSLA)

Potentia Wealth purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,353 shares of the electric vehicle producer's stock, valued at approximately $4,181,000. Tesla makes up 1.9% of Potentia Wealth's investment portfolio, making the stock its 13th largest holding.

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC lifted its holdings in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock valued at $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management lifted its stake in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after acquiring an additional 1,359 shares during the period. Stephens Consulting LLC boosted its holdings in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Finally, MML Investors Services LLC raised its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TSLA shares. StockNews.com downgraded shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. The Goldman Sachs Group reaffirmed a "cautious" rating on shares of Tesla in a report on Monday, March 3rd. Robert W. Baird dropped their target price on Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus reduced their price target on shares of Tesla from $492.00 to $474.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $404.00 price objective on shares of Tesla in a report on Monday, March 17th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $318.93.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $9.56 on Tuesday, reaching $287.95. The company's stock had a trading volume of 148,758,365 shares, compared to its average volume of 91,639,279. The company has a 50-day simple moving average of $330.52 and a 200 day simple moving average of $322.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 company has a market cap of $926.20 billion, a P/E ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50.

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 the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.