Wealthfront Advisers LLC Has $13.74 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealthfront Advisers LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 85.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,020 shares of the electric vehicle producer's stock after selling 205,562 shares during the period. Wealthfront Advisers LLC's holdings in Tesla were worth $13,739,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp grew its stake in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer's stock worth $49,000 after buying an additional 69 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Tesla in the 4th quarter valued at approximately $55,000. Finally, Finley Financial LLC bought a new position in Tesla in the 4th quarter worth $64,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSLA. Piper Sandler raised their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Robert W. Baird dropped their price target on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Morgan Stanley restated a "top pick" rating and issued a $430.00 price objective on shares of Tesla in a research report on Monday, March 3rd. Finally, Phillip Securities downgraded Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $326.43.

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Tesla Stock Up 3.8 %

Shares of NASDAQ TSLA opened at $230.58 on Wednesday. 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 cap of $741.66 billion, a price-to-earnings ratio of 113.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm's 50-day simple moving average is $360.40 and its 200 day simple moving average is $319.53. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is owned by corporate 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.

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