PFW Advisors LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

PFW Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,052 shares of the electric vehicle producer’s stock, valued at approximately $829,000.

A number of other hedge funds have also recently made changes to their positions in TSLA. Oppenheimer Asset Management Inc. increased its holdings in shares of Tesla by 112.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 35,857 shares of the electric vehicle producer’s stock worth $7,095,000 after buying an additional 18,953 shares during the period. Envestnet Asset Management Inc. grew its position in Tesla by 20.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,101,923 shares of the electric vehicle producer’s stock worth $218,048,000 after acquiring an additional 185,335 shares during the last quarter. Redwood Wealth Management Group LLC increased its stake in Tesla by 49.1% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 3,958 shares of the electric vehicle producer’s stock worth $783,000 after purchasing an additional 1,304 shares during the period. Brown Brothers Harriman & Co. lifted its position in Tesla by 36.6% in the second quarter. Brown Brothers Harriman & Co. now owns 10,921 shares of the electric vehicle producer’s stock valued at $2,161,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Tesla in the second quarter worth approximately $220,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TSLA shares. HSBC reissued a “reduce” rating and set a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Canaccord Genuity Group raised their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Piper Sandler increased their price objective on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $296.60.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $403.31 on Tuesday. The company has a 50 day moving average of $379.81 and a 200 day moving average of $283.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market cap of $1.29 trillion, a P/E ratio of 110.50, a PEG ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 1.99 EPS 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.