Physician Wealth Advisors Inc. Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Physician Wealth Advisors Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,406 shares of the electric vehicle producer’s stock after purchasing an additional 65 shares during the period. Physician Wealth Advisors Inc.’s holdings in Tesla were worth $950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Morningstar Investment Services LLC raised its stake in Tesla by 19.4% in the 3rd quarter. Morningstar Investment Services LLC now owns 4,211 shares of the electric vehicle producer’s stock valued at $1,038,000 after purchasing an additional 683 shares during the last quarter. Ancora Advisors LLC raised its stake in Tesla by 3.2% in the 3rd quarter. Ancora Advisors LLC now owns 5,086 shares of the electric vehicle producer’s stock valued at $1,273,000 after purchasing an additional 156 shares during the last quarter. Gotham Asset Management LLC raised its stake in Tesla by 8.3% in the 3rd quarter. Gotham Asset Management LLC now owns 30,414 shares of the electric vehicle producer’s stock valued at $7,610,000 after purchasing an additional 2,325 shares during the last quarter. Richard Bernstein Advisors LLC raised its stake in Tesla by 5.6% in the 3rd quarter. Richard Bernstein Advisors LLC now owns 60,947 shares of the electric vehicle producer’s stock valued at $15,250,000 after purchasing an additional 3,213 shares during the last quarter. Finally, Kinloch Capital LLC increased its stake in shares of Tesla by 41.4% during the 3rd quarter. Kinloch Capital LLC now owns 2,532 shares of the electric vehicle producer’s stock valued at $634,000 after acquiring an additional 741 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock valued at $19,285,643 over the last 90 days. 25.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TSLA. Wells Fargo & Company dropped their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Truist Financial dropped their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Finally, Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $187.30.

Tesla Stock Performance

Shares of TSLA traded up $0.46 during trading hours on Friday, reaching $197.88. 95,438,068 shares of the company’s stock traded hands, compared to its average volume of 68,945,696. The firm has a market capitalization of $631.08 billion, a price-to-earnings ratio of 50.48, a P/E/G ratio of 4.91 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The business’s fifty day simple moving average is $177.80 and its two-hundred day simple moving average is $191.71.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current year.

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.