Allworth Financial LP Buys 8,653 Shares of Tesla, Inc. (NASDAQ:TSLA)

Allworth Financial LP grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,196 shares of the electric vehicle producer’s stock after purchasing an additional 8,653 shares during the period. Allworth Financial LP’s holdings in Tesla were worth $29,969,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. World Investment Advisors LLC lifted its stake in shares of 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 valued at $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management lifted its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of 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 purchasing an additional 891 shares during the last quarter. Vinva Investment Management Ltd lifted its stake in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TSLA shares. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Canaccord Genuity Group raised their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $326.50.

Tesla Stock Up 1.8 %

Tesla stock opened at $360.56 on Thursday. The business has a fifty day moving average price of $403.41 and a 200-day moving average price of $311.13. Tesla, Inc. has a 1-year low of $138.80 and a 1-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 stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 176.75, a PEG ratio of 5.89 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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 research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by company insiders.

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.