Naviter Wealth LLC Purchases 1,669 Shares of Tesla, Inc. (NASDAQ:TSLA)

Naviter Wealth LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,831 shares of the electric vehicle producer’s stock after purchasing an additional 1,669 shares during the period. Naviter Wealth LLC’s holdings in Tesla were worth $3,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wyrmwood Management LLC bought a new position in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. acquired a new position in Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC grew its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. increased its holdings in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares in the last quarter. Finally, Cordant Inc. bought a new position in shares of Tesla in the third quarter valued at approximately $53,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. Company insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. HSBC cut their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Wells Fargo & Company decreased their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Evercore ISI dropped their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Finally, UBS Group lowered their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $184.32.

Tesla Stock Performance

NASDAQ TSLA traded up $24.63 on Monday, reaching $192.92. The stock had a trading volume of 195,314,635 shares, compared to its average volume of 104,423,578. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $615.26 billion, a P/E ratio of 48.47, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. The firm has a fifty day moving average of $175.04 and a two-hundred day moving average of $207.22.

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.