Frazier Financial Advisors LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Frazier Financial Advisors LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 536 shares of the electric vehicle producer’s stock after buying an additional 46 shares during the period. Frazier Financial Advisors LLC’s holdings in Tesla were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. United Bank purchased a new stake in shares of Tesla during the third quarter worth $287,000. Quantbot Technologies LP purchased a new position in Tesla in the third quarter valued at $687,000. Glenmede Trust Co. NA grew its stake in Tesla by 34.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after purchasing an additional 12,955 shares in the last quarter. Finally, National Wealth Management Group LLC raised its position in Tesla by 92.8% in the 3rd quarter. National Wealth Management Group LLC now owns 4,925 shares of the electric vehicle producer’s stock valued at $1,289,000 after purchasing an additional 2,371 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 0.4 %

Shares of TSLA opened at $273.13 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s 50-day moving average is $324.59 and its two-hundred day moving average is $321.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market cap of $878.53 billion, a PE ratio of 133.89, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. UBS Group dropped their price objective on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Truist Financial lifted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Canaccord Genuity Group restated a “buy” rating and issued a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Finally, Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $319.12.

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.