Fifth Third Wealth Advisors LLC Has $1.75 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fifth Third Wealth Advisors LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 52.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,970 shares of the electric vehicle producer’s stock after purchasing an additional 3,441 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Tesla were worth $1,753,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Buckley Wealth Management LLC lifted its stake in shares of Tesla by 2.9% in the first quarter. Buckley Wealth Management LLC now owns 3,559 shares of the electric vehicle producer’s stock worth $626,000 after acquiring an additional 100 shares during the period. Cypress Wealth Services LLC lifted its stake in shares of Tesla by 1.8% in the first quarter. Cypress Wealth Services LLC now owns 10,293 shares of the electric vehicle producer’s stock worth $1,809,000 after acquiring an additional 184 shares during the period. 180 Wealth Advisors LLC lifted its stake in shares of Tesla by 6.3% in the first quarter. 180 Wealth Advisors LLC now owns 34,277 shares of the electric vehicle producer’s stock worth $6,025,000 after acquiring an additional 2,039 shares during the period. Pasadena Private Wealth LLC lifted its stake in shares of Tesla by 76.8% in the first quarter. Pasadena Private Wealth LLC now owns 4,658 shares of the electric vehicle producer’s stock worth $819,000 after acquiring an additional 2,023 shares during the period. Finally, Colorado Capital Management Inc. lifted its stake in shares of Tesla by 4.0% in the first quarter. Colorado Capital Management Inc. now owns 7,147 shares of the electric vehicle producer’s stock worth $1,256,000 after acquiring an additional 272 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on TSLA shares. Stifel Nicolaus started coverage on Tesla in a research note on Tuesday. They issued a “buy” rating and a $265.00 price objective on the stock. Canaccord Genuity Group dropped their price target on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, June 20th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Wednesday, April 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $187.30.

Tesla Stock Performance

TSLA stock traded down $0.69 during midday trading on Friday, hitting $196.73. The company’s stock had a trading volume of 82,461,594 shares, compared to its average volume of 95,226,250. The stock’s 50-day moving average price is $175.83 and its 200 day moving average price is $192.28. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The stock has a market cap of $627.41 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 4.87 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. On average, equities analysts forecast that Tesla, Inc. will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,855 shares of company stock valued at $19,285,643. Insiders own 25.10% of the company’s stock.

About Tesla

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.