Savvy Advisors Inc. Acquires 1,488 Shares of Tesla, Inc. (NASDAQ:TSLA)

Savvy Advisors Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,015 shares of the electric vehicle producer's stock after buying an additional 1,488 shares during the quarter. Savvy Advisors Inc.'s holdings in Tesla were worth $3,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Destination Wealth Management boosted its holdings in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC boosted its stake 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 buying an additional 891 shares during the period. Worth Asset Management LLC grew its holdings in shares of Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after acquiring an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its holdings in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in Tesla by 104.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock valued at $23,242,000 after purchasing an additional 29,458 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts have issued reports on the stock. Guggenheim reduced their target price on shares of Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a research note on Wednesday, March 12th. Piper Sandler reduced their price objective on shares of Tesla from $500.00 to $450.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Glj Research reissued a "buy" rating on shares of Tesla in a research report on Tuesday, March 11th. StockNews.com cut Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, Wedbush cut their price objective on Tesla from $550.00 to $315.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $298.59.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on 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 sale, the director now owns 85,000 shares of the company's stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

NASDAQ:TSLA traded up $1.76 on Tuesday, reaching $254.11. The stock had a trading volume of 78,792,804 shares, compared to its average volume of 95,936,384. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $817.35 billion, a P/E ratio of 124.56, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a fifty day moving average price of $280.27 and a 200-day moving average price of $323.03.

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 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%. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.