Tesla, Inc. (NASDAQ:TSLA) Holdings Boosted by Spire Wealth Management

Spire Wealth Management grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 54,322 shares of the electric vehicle producer’s stock after purchasing an additional 701 shares during the period. Spire Wealth Management’s holdings in Tesla were worth $13,498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Mount Vernon Associates Inc. MD boosted its holdings in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares during the period. Oak Ridge Investments LLC increased its stake in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. Citigroup lifted their price target on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Roth Mkm restated a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and issued a $275.00 price objective on shares of Tesla in a report on Monday, April 29th. Cantor Fitzgerald started coverage on Tesla in a report on Thursday. They set an “overweight” rating and a $230.00 target price on the stock. Finally, Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $185.90.

Tesla Stock Up 0.7 %

Shares of TSLA traded up $1.18 during mid-day trading on Friday, hitting $181.19. 75,491,539 shares of the company’s stock were exchanged, compared to its average volume of 112,969,304. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a market cap of $577.85 billion, a PE ratio of 46.22, a P/E/G ratio of 4.74 and a beta of 2.41. The company has a 50-day simple moving average of $173.85 and a 200 day simple moving average of $204.81.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

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.