Masso Torrence Wealth Management Inc. Has $1.71 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Masso Torrence Wealth Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,861 shares of the electric vehicle producer’s stock after acquiring an additional 627 shares during the period. Tesla comprises 1.2% of Masso Torrence Wealth Management Inc.’s holdings, making the stock its 22nd largest holding. Masso Torrence Wealth Management Inc.’s holdings in Tesla were worth $1,705,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC boosted its position in shares of Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after acquiring an additional 42 shares in the last quarter. Holderness Investments Co. lifted its stake in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the last quarter. Wagner Wealth Management LLC lifted its stake in Tesla by 1.3% in the 3rd quarter. Wagner Wealth Management LLC now owns 3,384 shares of the electric vehicle producer’s stock valued at $847,000 after purchasing an additional 44 shares during the last quarter. SCS Capital Management LLC lifted its stake in Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after purchasing an additional 45 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its stake in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 1.8 %

Shares of TSLA traded up $2.58 during trading hours on Tuesday, reaching $144.63. 83,604,871 shares of the stock traded hands, compared to its average volume of 101,447,523. The company has a market cap of $460.62 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 3.89 and a beta of 2.40. 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, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The stock has a fifty day simple moving average of $177.59 and a 200 day simple moving average of $210.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 owns 63,171 shares of the company’s stock, valued at $11,188,215.81. 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 the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. Company insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research note on Wednesday, March 27th. Truist Financial dropped their price target on shares of Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. China Renaissance initiated coverage on shares of Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. Finally, Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $194.33.

Tesla 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.