Forvis Mazars Wealth Advisors LLC Purchases 1,828 Shares of Tesla, Inc. (NASDAQ:TSLA)

Forvis Mazars Wealth Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 28.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,308 shares of the electric vehicle producer’s stock after acquiring an additional 1,828 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Tesla were worth $3,355,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TSLA. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla in the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla in the fourth quarter worth about $46,000. PayPay Securities Corp increased its position in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TSLA. Barclays upped their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Mizuho restated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Wells Fargo & Company upped their price target on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $319.57.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $302.80 on Wednesday. The firm has a market capitalization of $973.96 billion, a price-to-earnings ratio of 148.43, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The business has a 50 day simple moving average of $393.98 and a 200-day simple moving average of $315.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued 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%. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.