Canvas Wealth Advisors LLC Purchases 3,735 Shares of Tesla, Inc. (NASDAQ:TSLA)

Canvas Wealth Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 39.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,145 shares of the electric vehicle producer’s stock after purchasing an additional 3,735 shares during the period. Tesla makes up about 1.2% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Canvas Wealth Advisors LLC’s holdings in Tesla were worth $3,266,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in shares of Tesla during the third quarter worth $25,000. Wyrmwood Management LLC bought a new stake in shares of Tesla during the fourth quarter worth $25,000. Halpern Financial Inc. increased its position in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new position in Tesla during the third quarter worth $27,000. Finally, MayTech Global Investments LLC acquired a new position in Tesla during the fourth quarter worth $30,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Tesla from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Wedbush restated an “outperform” rating and set a $315.00 target price on shares of Tesla in a research note on Wednesday, March 13th. Royal Bank of Canada restated an “outperform” rating and set a $297.00 target price on shares of Tesla in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $208.04.

Tesla Trading Up 2.9 %

NASDAQ:TSLA traded up $5.04 during mid-day trading on Tuesday, hitting $177.67. 112,973,935 shares of the company’s stock were exchanged, compared to its average volume of 103,460,648. The company has a 50 day simple moving average of $189.34 and a 200-day simple moving average of $222.86. 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 fifty-two week low of $152.37 and a fifty-two week high of $299.29. The firm has a market capitalization of $565.84 billion, a P/E ratio of 41.22, a PEG ratio of 3.84 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last posted its 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). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 2.45 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,598 shares of company stock worth $36,952,434. Company insiders own 20.90% 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.