Uniting Wealth Partners LLC Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Uniting Wealth Partners LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,262 shares of the electric vehicle producer's stock, valued at approximately $510,000.

Several other large investors also recently modified their holdings of the business. Horrell Capital Management Inc. lifted its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. boosted its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its holdings in Tesla by 300.0% in the fourth 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 in the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new position in Tesla during the fourth quarter valued at $44,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on shares of Tesla from $320.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday. Stifel Nicolaus decreased their target price on Tesla from $474.00 to $455.00 and set a "buy" rating on the stock in a research note on Monday. Piper Sandler decreased their price objective on Tesla from $500.00 to $450.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. Mizuho lowered their price target on Tesla from $515.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. Finally, Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $312.65.

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Tesla Stock Down 5.5 %

Shares of Tesla stock traded down $15.48 during trading on Thursday, hitting $267.28. 135,622,518 shares of the stock were exchanged, compared to its average volume of 94,233,690. 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, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market cap of $859.71 billion, a price-to-earnings ratio of 131.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm's 50-day moving average price is $309.32 and its 200 day moving average price is $322.81.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 over the last three months. 20.70% of the stock is currently owned by insiders.

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.