SVB Wealth LLC Buys 31,223 Shares of Tesla, Inc. (NASDAQ:TSLA)

SVB Wealth LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 45.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 100,270 shares of the electric vehicle producer’s stock after acquiring an additional 31,223 shares during the period. SVB Wealth LLC’s holdings in Tesla were worth $24,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidWestOne Financial Group Inc. increased its position in shares of Tesla by 3.3% in the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after acquiring an additional 15 shares during the period. City State Bank increased its position in shares of Tesla by 3.3% in the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after acquiring an additional 40 shares during the period. Marcum Wealth LLC increased its position in shares of Tesla by 0.6% in the third quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock valued at $1,850,000 after acquiring an additional 41 shares during the period. Linscomb & Williams Inc. increased its position in shares of Tesla by 3.5% in the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after acquiring an additional 42 shares during the period. Finally, Opal Wealth Advisors LLC increased its position in shares of Tesla by 1.0% during the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after buying an additional 42 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 20.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSLA. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Redburn Atlantic began coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target on the stock. Mizuho restated a “neutral” rating and issued a $195.00 price objective (down previously from $270.00) on shares of Tesla in a report on Monday, March 25th. Robert W. Baird cut their price objective on shares of Tesla from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. Finally, KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $198.81.

Tesla Stock Down 2.9 %

Shares of Tesla stock traded down $4.75 on Tuesday, reaching $156.73. The stock had a trading volume of 46,021,121 shares, compared to its average volume of 101,451,383. The company has a 50 day moving average price of $181.44 and a 200 day moving average price of $213.70. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 1 year low of $152.37 and a 1 year high of $299.29. The stock has a market capitalization of $499.15 billion, a P/E ratio of 36.36, a P/E/G ratio of 4.50 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 1.98 EPS for the current year.

Tesla 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.