Sound View Wealth Advisors Group LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Sound View Wealth Advisors Group LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 44,481 shares of the electric vehicle producer’s stock after acquiring an additional 969 shares during the period. Tesla makes up approximately 1.4% of Sound View Wealth Advisors Group LLC’s holdings, making the stock its 15th largest holding. Sound View Wealth Advisors Group LLC’s holdings in Tesla were worth $17,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. World Investment Advisors LLC grew its stake in Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management grew 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 worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC grew 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 worth $644,000 after purchasing an additional 891 shares in the last quarter. Vinva Investment Management Ltd grew 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 worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings 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 buying an additional 9,919 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Wednesday, February 12th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a report on Friday. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 target price on shares of Tesla in a report on Monday, March 3rd. Finally, Benchmark initiated coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Nine research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $327.37.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla 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 transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock valued at $153,659,530 over the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 0.3 %

Shares of NASDAQ:TSLA opened at $262.67 on Friday. 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, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market cap of $844.88 billion, a price-to-earnings ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50. The company has a 50-day moving average price of $367.78 and a 200 day moving average price of $318.71.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.