Fortis Group Advisors LLC Acquires 442 Shares of Tesla, Inc. (NASDAQ:TSLA)

Fortis Group Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,222 shares of the electric vehicle producer’s stock after purchasing an additional 442 shares during the period. Fortis Group Advisors LLC’s holdings in Tesla were worth $897,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new stake in Tesla during the third quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter valued at about $46,000. PayPay Securities Corp raised its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 1.7 %

Tesla stock opened at $354.40 on Friday. The firm has a market cap of $1.14 trillion, a PE ratio of 173.73, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s 50 day simple moving average is $402.14 and its two-hundred day simple moving average is $311.43. 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 (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. Benchmark started coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target on the stock. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Wednesday, February 12th. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $326.50.

Tesla Profile

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.