EverSource Wealth Advisors LLC Has $9.90 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

EverSource Wealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 201.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,998 shares of the electric vehicle producer’s stock after purchasing an additional 36,075 shares during the period. Tesla accounts for 0.8% of EverSource Wealth Advisors LLC’s portfolio, making the stock its 29th largest holding. EverSource Wealth Advisors LLC’s holdings in Tesla were worth $9,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Patten & Patten Inc. TN raised its position in shares of Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after acquiring an additional 48 shares during the last quarter. Washburn Capital Management Inc. boosted its stake in Tesla by 1.7% in the 4th quarter. Washburn Capital Management Inc. now owns 2,990 shares of the electric vehicle producer’s stock worth $743,000 after purchasing an additional 50 shares during the period. Davis R M Inc. boosted its stake in Tesla by 0.7% in the 4th quarter. Davis R M Inc. now owns 6,991 shares of the electric vehicle producer’s stock worth $1,737,000 after purchasing an additional 52 shares during the period. Wealthcare Capital Management LLC boosted its stake in shares of Tesla by 3.3% during the 4th quarter. Wealthcare Capital Management LLC now owns 1,744 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 56 shares during the last quarter. Finally, Clear Investment Research LLC boosted its stake in shares of Tesla by 25.4% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the electric vehicle producer’s stock worth $70,000 after buying an additional 57 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Monday, July 29th. Barclays reduced their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Wednesday, April 24th. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Finally, Royal Bank of Canada dropped their target price on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $204.30.

Tesla Price Performance

Tesla stock traded down $9.19 during mid-day trading on Friday, reaching $207.67. The company had a trading volume of 82,880,120 shares, compared to its average volume of 126,158,848. The company has a market cap of $663.43 billion, a P/E ratio of 52.98, a P/E/G ratio of 5.60 and a beta of 2.31. The business has a fifty day simple moving average of $210.01 and a 200 day simple moving average of $191.08. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. On average, equities research analysts predict that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,719 shares of company stock valued at $32,032,968. Company 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.