Broadway Wealth Solutions Inc. Buys Shares of 2,300 Tesla, Inc. (NASDAQ:TSLA)

Broadway Wealth Solutions Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,300 shares of the electric vehicle producer’s stock, valued at approximately $929,000. Tesla accounts for about 0.7% of Broadway Wealth Solutions Inc.’s portfolio, making the stock its 18th largest holding.

A number of other institutional investors also recently bought and sold shares of the stock. Frazier Financial Advisors LLC increased its position in Tesla by 9.4% in the fourth quarter. Frazier Financial Advisors LLC now owns 536 shares of the electric vehicle producer’s stock worth $224,000 after buying an additional 46 shares in the last quarter. X Square Capital LLC raised its stake in Tesla by 510.3% during the 4th quarter. X Square Capital LLC now owns 11,285 shares of the electric vehicle producer’s stock worth $4,557,000 after acquiring an additional 9,436 shares during the period. New Age Alpha Advisors LLC purchased a new position in Tesla during the fourth quarter valued at approximately $25,338,000. Hippocratic Financial Advisors LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $299,000. Finally, Norges Bank purchased a new stake in shares of Tesla in the fourth quarter worth $14,420,248,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and lifted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Evercore ISI upped their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Bank of America reduced their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $319.12.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was 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 $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 over the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 0.4 %

NASDAQ:TSLA opened at $273.13 on Friday. 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 firm has a 50-day simple moving average of $324.59 and a 200-day simple moving average of $321.35. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market cap of $878.53 billion, a P/E ratio of 133.89, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 net margin of 7.26% and a return on equity of 10.31%. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.