Seven Mile Advisory Purchases 604 Shares of Tesla, Inc. (NASDAQ:TSLA)

Seven Mile Advisory raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,137 shares of the electric vehicle producer’s stock after acquiring an additional 604 shares during the quarter. Tesla makes up about 1.1% of Seven Mile Advisory’s investment portfolio, making the stock its 17th biggest position. Seven Mile Advisory’s holdings in Tesla were worth $1,671,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. World Investment Advisors LLC boosted its stake in Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management grew its stake in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Stephens Consulting LLC increased its holdings in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. MML Investors Services LLC lifted its stake in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $263.55 on Monday. The stock’s fifty day moving average price is $321.33 and its 200 day moving average price is $323.01. 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 company has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Wedbush reissued an “outperform” rating and issued a $550.00 target price on shares of Tesla in a report on Thursday. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Finally, 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 note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $318.34.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last quarter. 20.70% of the stock is currently owned by company insiders.

About Tesla

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.