Trivest Advisors Ltd Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Trivest Advisors Ltd raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 57.5% during the fourth quarter, Holdings Channel reports. The firm owned 283,500 shares of the electric vehicle producer’s stock after buying an additional 103,500 shares during the period. Tesla comprises 5.2% of Trivest Advisors Ltd’s holdings, making the stock its 4th biggest holding. Trivest Advisors Ltd’s holdings in Tesla were worth $114,489,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla in the fourth quarter valued at $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at $47,000. PayPay Securities Corp grew its holdings in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $55,000. Finally, Finley Financial LLC acquired a new position in Tesla in the fourth quarter valued at about $64,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 5.3 %

NASDAQ TSLA opened at $225.31 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. 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 firm has a market cap of $724.71 billion, a P/E ratio of 110.45, a P/E/G ratio of 5.86 and a beta of 2.50. The stock’s 50-day moving average is $344.47 and its 200-day moving average is $320.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Wedbush reiterated an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research report on Friday, March 7th. Royal Bank of Canada decreased their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Nine equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $319.25.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by corporate insiders.

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.