Tesla, Inc. (NASDAQ:TSLA) Holdings Boosted by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,288 shares of the electric vehicle producer's stock after buying an additional 4,303 shares during the period. Tesla accounts for about 2.6% of Fortis Capital Advisors LLC's investment portfolio, making the stock its 8th biggest position. Fortis Capital Advisors LLC's holdings in Tesla were worth $7,789,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TSLA. Horrell Capital Management Inc. lifted 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. raised its holdings 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 buying an additional 58 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the 4th quarter valued at $38,000. Delos Wealth Advisors LLC increased its holdings in Tesla by 300.0% during the 4th 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 during the period. Finally, Cyrus J. Lawrence LLC acquired a new stake in Tesla in the fourth quarter valued at $44,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Tesla 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 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 Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Tesla from $450.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday. Truist Financial reduced their target price on shares of Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Robert W. Baird lowered their target price on Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Monday, February 10th. Finally, StockNews.com cut Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tesla has an average rating of "Hold" and an average price target of $297.03.

Tesla Stock Performance

Shares of TSLA traded down $8.20 during midday trading on Wednesday, reaching $245.91. The stock had a trading volume of 49,787,170 shares, compared to its average volume of 95,767,711. The firm has a market cap of $790.97 billion, a PE ratio of 120.54, a P/E/G ratio of 5.86 and a beta of 2.58. The firm has a 50 day simple moving average of $280.27 and a 200-day simple moving average of $323.03. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its 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, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.