Instrumental Wealth LLC Has $426,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Instrumental Wealth LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,056 shares of the electric vehicle producer’s stock after buying an additional 91 shares during the quarter. Tesla comprises 0.4% of Instrumental Wealth LLC’s holdings, making the stock its 26th biggest position. Instrumental Wealth LLC’s holdings in Tesla were worth $426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in Tesla in the fourth quarter valued at about $56,600,000. Stephens Consulting LLC raised its stake in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its stake in Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. acquired a new position in Tesla in the fourth quarter valued at about $8,158,000. Finally, Vontobel Holding Ltd. raised its stake in Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after purchasing an additional 60,342 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research note on Tuesday, April 22nd. BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Morgan Stanley reissued a “buy” rating and set a $430.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Finally, Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $293.97.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the transaction, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock worth $116,650,831 over the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $339.34 on Friday. The business’s 50 day simple moving average is $277.33 and its 200 day simple moving average is $333.00. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The stock has a market capitalization of $1.09 trillion, a PE ratio of 166.34, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.