Tesla, Inc. $TSLA Stock Holdings Lowered by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 42.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,564 shares of the electric vehicle producer’s stock after selling 2,678 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Tesla were worth $1,559,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Narwhal Capital Management increased its stake in shares of Tesla by 32.8% during the third quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock valued at $4,232,000 after acquiring an additional 2,350 shares during the period. Gamco Investors INC. ET AL boosted its stake in Tesla by 29.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock valued at $14,487,000 after purchasing an additional 7,446 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Tesla by 8.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer’s stock worth $21,571,000 after buying an additional 3,935 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Tesla by 26.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer’s stock worth $8,019,000 after buying an additional 3,724 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Tesla by 20.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 16,565 shares of the electric vehicle producer’s stock valued at $7,367,000 after buying an additional 2,765 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $391.95 on Thursday. The firm’s 50 day simple moving average is $390.09 and its 200-day simple moving average is $423.42. The company has a market cap of $1.47 trillion, a P/E ratio of 362.92, a price-to-earnings-growth ratio of 11.32 and a beta of 1.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77. Tesla, Inc. has a fifty-two week low of $222.79 and a fifty-two week high of $498.83.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TSLA. BNP Paribas Exane cut their price target on shares of Tesla from $313.00 to $280.00 and set an “underperform” rating for the company in a report on Monday, March 2nd. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a report on Tuesday, April 7th. Zacks Research cut shares of Tesla from a “hold” rating to a “strong sell” rating in a report on Monday, March 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Tesla in a report on Thursday, January 29th. Finally, TD Cowen cut their price objective on Tesla from $519.00 to $490.00 and set a “buy” rating for the company in a research report on Wednesday. Nineteen analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and nine have assigned 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 $398.61.

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Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 25,809 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the transaction, the director directly owned 33,860 shares of the company’s stock, valued at approximately $12,166,913.80. The trade was a 43.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,804 shares of company stock worth $20,865,598 over the last ninety days. 19.90% of the stock is currently owned by insiders.

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.

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