Axxcess Wealth Management LLC Buys 1,623 Shares of Tesla, Inc. (NASDAQ:TSLA)

Axxcess Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,495 shares of the electric vehicle producer’s stock after acquiring an additional 1,623 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Tesla were worth $24,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the fourth quarter worth $46,000. Parkworth Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter valued at $47,000. PayPay Securities Corp lifted its stake in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Rialto Wealth Management LLC bought a new position in shares of Tesla in the fourth quarter valued at $55,000. Finally, Finley Financial LLC bought a new position in shares of Tesla in the fourth quarter valued at $64,000. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

TSLA opened at $238.01 on Tuesday. The company has a market capitalization of $765.56 billion, a price-to-earnings ratio of 116.67, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $347.85 and a 200-day moving average price of $320.53. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its 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 return on equity of 10.31% and a net margin of 7.26%. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TSLA. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research note on Monday. Benchmark assumed coverage on shares of 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 increased their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $323.00.

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.