Modern Wealth Management LLC Has $3.96 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Modern Wealth Management LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,805 shares of the electric vehicle producer’s stock after buying an additional 1,094 shares during the period. Modern Wealth Management LLC’s holdings in Tesla were worth $3,960,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. grew its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $38,000. Cyrus J. Lawrence LLC bought a new stake in shares of Tesla in the fourth quarter worth $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the fourth quarter worth $46,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $287.95 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a 50 day simple moving average of $330.52 and a two-hundred day simple moving average of $322.04. The company has a market capitalization of $926.20 billion, a PE ratio of 141.15, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction 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 transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale 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 on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Oppenheimer restated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Truist Financial upped their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $318.93.

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.