FourThought Financial Partners LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

FourThought Financial Partners LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,390 shares of the electric vehicle producer’s stock after purchasing an additional 58 shares during the period. FourThought Financial Partners LLC’s holdings in Tesla were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Holderness Investments Co. raised its holdings in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the last quarter. SCS Capital Management LLC grew its stake in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after buying an additional 45 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after buying an additional 45 shares during the period. ML & R Wealth Management LLC increased its position in shares of Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after acquiring an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc raised its holdings in shares of Tesla by 3.5% in the 3rd quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock valued at $344,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 1.1 %

TSLA traded up $2.06 during mid-day trading on Monday, hitting $183.25. The stock had a trading volume of 48,274,360 shares, compared to its average volume of 104,001,602. The firm has a market capitalization of $584.42 billion, a price-to-earnings ratio of 46.59, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The stock’s fifty day simple moving average is $173.85 and its 200-day simple moving average is $204.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Royal Bank of Canada dropped their price target on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Barclays decreased their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Redburn Atlantic assumed coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Finally, Mizuho reduced their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $185.90.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. 25.10% of the stock is 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.