Tesla, Inc. (NASDAQ:TSLA) is 1776 Wealth LLC’s 7th Largest Position

1776 Wealth LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,698 shares of the electric vehicle producer’s stock after purchasing an additional 250 shares during the period. Tesla comprises about 2.9% of 1776 Wealth LLC’s investment portfolio, making the stock its 7th biggest holding. 1776 Wealth LLC’s holdings in Tesla were worth $6,743,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. World Investment Advisors LLC lifted its holdings in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC increased its stake in shares of 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 during the period. Vinva Investment Management Ltd increased its stake in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $248.09 on Thursday. The company has a market capitalization of $797.99 billion, a price-to-earnings ratio of 121.61, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a 50-day simple moving average of $357.29 and a 200 day simple moving average of $319.03. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Piper Sandler raised their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Jefferies Financial Group raised their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. UBS Group lowered their price objective on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday. Finally, Guggenheim lowered their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $325.81.

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.