RWA Wealth Partners LLC Acquires 26,382 Shares of Tesla, Inc. (NASDAQ:TSLA)

RWA Wealth Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1,075.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,836 shares of the electric vehicle producer’s stock after buying an additional 26,382 shares during the quarter. RWA Wealth Partners LLC’s holdings in Tesla were worth $7,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC raised its position in Tesla by 2.2% in the third quarter. Wedge Capital Management L L P NC now owns 3,078 shares of the electric vehicle producer’s stock valued at $770,000 after purchasing an additional 66 shares during the last quarter. Naples Global Advisors LLC raised its position in Tesla by 2.8% in the third quarter. Naples Global Advisors LLC now owns 2,603 shares of the electric vehicle producer’s stock valued at $651,000 after purchasing an additional 70 shares during the last quarter. Legacy Trust raised its position in Tesla by 7.3% in the third quarter. Legacy Trust now owns 971 shares of the electric vehicle producer’s stock valued at $243,000 after purchasing an additional 66 shares during the last quarter. Traynor Capital Management Inc. raised its position in Tesla by 8.4% in the third quarter. Traynor Capital Management Inc. now owns 56,805 shares of the electric vehicle producer’s stock valued at $14,214,000 after purchasing an additional 4,404 shares during the last quarter. Finally, Essex LLC raised its position in Tesla by 199.0% in the third quarter. Essex LLC now owns 2,479 shares of the electric vehicle producer’s stock valued at $620,000 after purchasing an additional 1,650 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. The Goldman Sachs Group dropped their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. TD Cowen decreased their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft cut Tesla from a “buy” rating to a “hold” rating and decreased their price target for the company from $189.00 to $123.00 in a research note on Thursday, April 18th. UBS Group decreased their price target on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Citigroup decreased their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $194.70.

Tesla Trading Up 1.0 %

Shares of Tesla stock opened at $143.49 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The stock has a 50 day moving average price of $177.59 and a two-hundred day moving average price of $210.05. The stock has a market capitalization of $456.99 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40.

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 analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period last year, the business posted $1.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The stock was 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 owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla 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 transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 20.90% of the company’s stock.

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.