Aprio Wealth Management LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Aprio Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,813 shares of the electric vehicle producer’s stock after acquiring an additional 557 shares during the quarter. Aprio Wealth Management LLC’s holdings in Tesla were worth $3,155,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TSLA. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter valued at about $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. boosted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $394.74 on Monday. The firm has a market capitalization of $1.27 trillion, a PE ratio of 108.15, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The business’s fifty day moving average price is $376.60 and its 200 day moving average price is $281.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Truist Financial restated a “hold” rating and issued a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. The Goldman Sachs Group upped their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Barclays upped their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $296.60.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 over the last quarter. 20.70% of the stock is currently owned by 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.