Independent Advisor Alliance Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Independent Advisor Alliance grew its position in Tesla, Inc. (NASDAQ:TSLA) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,176 shares of the electric vehicle producer’s stock after buying an additional 18,172 shares during the quarter. Tesla accounts for approximately 0.6% of Independent Advisor Alliance’s holdings, making the stock its 27th biggest holding. Independent Advisor Alliance’s holdings in Tesla were worth $47,320,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Swedbank AB grew its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Principal Financial Group Inc. grew its holdings in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares during the period. Equitable Trust Co. grew its holdings in Tesla by 78.7% in the 3rd quarter. Equitable Trust Co. now owns 8,950 shares of the electric vehicle producer’s stock valued at $2,342,000 after buying an additional 3,943 shares during the period. United Bank purchased a new stake in Tesla in the 3rd quarter valued at about $287,000. Finally, First Personal Financial Services purchased a new stake in Tesla in the 3rd quarter valued at about $81,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $262.67 on Monday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $844.88 billion, a price-to-earnings ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The business has a 50 day simple moving average of $367.78 and a 200-day simple moving average of $319.38.

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

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 422,452 shares of company stock worth $153,659,530 in the last three months. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Mizuho restated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Benchmark started coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Finally, Barclays lifted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $327.37.

Tesla Company 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.