Canvas Wealth Advisors LLC Acquires 1,915 Shares of Tesla, Inc. $TSLA

Canvas Wealth Advisors LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 43,094 shares of the electric vehicle producer’s stock after buying an additional 1,915 shares during the period. Tesla comprises approximately 3.3% of Canvas Wealth Advisors LLC’s holdings, making the stock its 10th biggest position. Canvas Wealth Advisors LLC’s holdings in Tesla were worth $19,380,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TSLA. Optivise Advisory Services LLC lifted its holdings in Tesla by 17.5% in the fourth quarter. Optivise Advisory Services LLC now owns 3,719 shares of the electric vehicle producer’s stock worth $1,672,000 after acquiring an additional 555 shares during the last quarter. Client 1ST Advisory Group LLC acquired a new stake in shares of Tesla during the 4th quarter worth approximately $1,069,000. Foster Group Inc. lifted its stake in Tesla by 4.2% in the fourth quarter. Foster Group Inc. now owns 7,358 shares of the electric vehicle producer’s stock valued at $3,309,000 after buying an additional 295 shares during the last quarter. Fiduciary Financial Group LLC boosted its holdings in shares of Tesla by 6.7% during the fourth quarter. Fiduciary Financial Group LLC now owns 2,207 shares of the electric vehicle producer’s stock valued at $993,000 after acquiring an additional 139 shares during the period. Finally, Curated Wealth Partners LLC grew its position in shares of Tesla by 4.8% during the fourth quarter. Curated Wealth Partners LLC now owns 1,207 shares of the electric vehicle producer’s stock worth $543,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 25,731 shares of Tesla stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $415.56, for a total value of $10,692,774.36. Following the transaction, the director directly owned 19,669 shares in the company, valued at $8,173,649.64. The trade was a 56.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the sale, the director directly owned 577,031 shares in the company, valued at $257,009,607.40. This trade represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,995 shares of company stock valued at $38,315,650 in the last three months. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA opened at $385.95 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77. The firm’s 50 day moving average is $411.05 and its 200-day moving average is $428.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $498.83. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 357.36, a P/E/G ratio of 11.33 and a beta of 1.89.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. The business had revenue of $24.90 billion during the quarter, compared to analyst estimates of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Phillip Securities cut their price target on Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Monday, February 2nd. CICC Research increased their price target on Tesla from $450.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, January 29th. New Street Research increased their price objective on shares of Tesla from $520.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Tigress Financial started coverage on Tesla in a research report on Thursday, February 12th. They issued a “buy” rating and a $550.00 target price for the company. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $406.84.

Check Out Our Latest Stock Analysis on TSLA

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About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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