Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,508 shares of the electric vehicle producer’s stock after buying an additional 2,357 shares during the period. Wellspring Financial Advisors LLC’s holdings in Tesla were worth $5,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the fourth quarter valued at $38,000. Delos Wealth Advisors LLC increased its position in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC purchased a new position in Tesla in the 4th quarter worth $44,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. Bank of America dropped their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Evercore ISI raised their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Stifel Nicolaus dropped their price objective on shares of Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Finally, Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $312.65.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 370,228 shares of company stock worth $122,791,123 in the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $239.43 on Monday. 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 stock’s fifty day moving average is $305.98 and its two-hundred day moving average is $324.24. The firm has a market capitalization of $770.13 billion, a P/E ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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, research analysts anticipate 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.