12,639 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Sovran Advisors LLC

Sovran Advisors LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,639 shares of the electric vehicle producer's stock, valued at approximately $5,010,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth about $29,000. Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finley Financial LLC acquired a new position in Tesla in the fourth quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in Tesla by 136.4% in the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer's stock valued at $80,000 after purchasing an additional 176 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSLA. Truist Financial upped their price target on Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Wedbush boosted their price objective on Tesla from $515.00 to $550.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on Tesla from $130.00 to $135.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Stifel Nicolaus reduced their price objective on Tesla from $492.00 to $474.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, StockNews.com cut Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $326.50.

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Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company's stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Tesla stock traded down $1.20 during trading hours on Tuesday, hitting $354.65. The stock had a trading volume of 27,747,998 shares, compared to its average volume of 75,893,945. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 173.83, a PEG ratio of 6.22 and a beta of 2.34. The stock's fifty day moving average is $405.64 and its two-hundred day moving average is $309.75. 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 announced its quarterly earnings results 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%. As a group, analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

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.