Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,398 shares of the electric vehicle producer’s stock after buying an additional 2,539 shares during the quarter. Modera Wealth Management LLC’s holdings in Tesla were worth $5,815,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the 3rd quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the 4th quarter worth approximately $46,000. PayPay Securities Corp raised its holdings in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter valued at approximately $35,000. Finally, Finley Financial LLC acquired a new stake in shares of Tesla in the fourth quarter worth approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 403,996 shares of company stock valued at $153,721,387. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and increased their price objective for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Mizuho reiterated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Guggenheim restated a “sell” rating on shares of Tesla in a research report on Tuesday, February 25th. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Wednesday, February 12th. Finally, Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $318.77.

Tesla Trading Down 2.8 %

TSLA opened at $284.65 on Tuesday. The business has a fifty day moving average price of $382.44 and a 200 day moving average price of $318.01. 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 capitalization of $915.58 billion, a price-to-earnings ratio of 139.53, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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%. Sell-side analysts expect that Tesla, Inc. will post 2.56 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.