Integrity Wealth Advisors Inc. Invests $826,000 in Tesla, Inc. (NASDAQ:TSLA)

Integrity Wealth Advisors Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,045 shares of the electric vehicle producer’s stock, valued at approximately $826,000. Tesla accounts for 0.6% of Integrity Wealth Advisors Inc.’s portfolio, making the stock its 25th biggest position.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares in the last quarter. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter valued at $14,420,248,000. FMR LLC raised its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after acquiring an additional 780,026 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Piper Sandler cut their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Bank of America cut their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Finally, Truist Financial cut their price target on shares of Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $298.59.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock worth $123,791,123 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 0.0 %

TSLA stock opened at $252.35 on Tuesday. The business’s 50 day simple moving average is $282.67 and its 200 day simple moving average is $323.51. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $811.69 billion, a PE ratio of 123.70, a PEG ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.