Powell Investment Advisors LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Powell Investment Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,782 shares of the electric vehicle producer’s stock after purchasing an additional 304 shares during the period. Powell Investment Advisors LLC’s holdings in Tesla were worth $940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Tesla during the fourth quarter worth about $3,459,540,000. Moneta Group Investment Advisors LLC increased its holdings in Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after buying an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Tesla by 203.9% during the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after buying an additional 13,558,882 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after buying an additional 5,292,464 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. KGI Securities reiterated a “neutral” rating and set a $213.00 target price (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Barclays cut their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday. Citigroup cut their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Canaccord Genuity Group cut their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $194.70.

Tesla Price Performance

Shares of TSLA stock traded down $2.88 during trading hours on Friday, hitting $147.05. 87,074,500 shares of the company’s stock were exchanged, compared to its average volume of 89,857,384. The company has a market capitalization of $468.32 billion, a PE ratio of 34.12, a PEG ratio of 3.96 and a beta of 2.39. Tesla, Inc. has a 12-month low of $146.22 and a 12-month high of $299.29. The business’s 50 day simple moving average is $178.51 and its 200-day simple moving average is $211.48. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on 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 completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

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.