Advisory Services Network LLC Buys 11,978 Shares of Tesla, Inc. (NASDAQ:TSLA)

Advisory Services Network LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,949 shares of the electric vehicle producer’s stock after purchasing an additional 11,978 shares during the quarter. Tesla comprises approximately 0.7% of Advisory Services Network LLC’s portfolio, making the stock its 13th biggest holding. Advisory Services Network LLC’s holdings in Tesla were worth $27,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new position in Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new position in Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC raised its position in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its stake in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Advisors Preferred LLC bought a new position in shares of Tesla during the third quarter valued at approximately $60,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’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 of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,097 shares of company stock worth $37,877,471. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of TSLA traded up $5.50 during trading hours on Friday, reaching $179.24. The company had a trading volume of 65,480,088 shares, compared to its average volume of 100,536,992. The company has a market capitalization of $571.63 billion, a price-to-earnings ratio of 45.53, a PEG ratio of 4.42 and a beta of 2.41. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The firm has a 50 day simple moving average of $171.38 and a 200-day simple moving average of $201.55. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Research analysts expect that Tesla, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays lowered their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Canaccord Genuity Group reduced their price target on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada lowered their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $185.90.

Check Out Our Latest Analysis on TSLA

About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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