Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Navis Wealth Advisors LLC

Navis Wealth Advisors LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,188 shares of the electric vehicle producer’s stock after purchasing an additional 405 shares during the period. Tesla makes up about 1.0% of Navis Wealth Advisors LLC’s holdings, making the stock its 21st largest holding. Navis Wealth Advisors LLC’s holdings in Tesla were worth $884,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. MKT Advisors LLC acquired a new position in Tesla during the 4th quarter worth about $392,000. Clarendon Private LLC acquired a new stake in shares of Tesla during the fourth quarter worth about $357,000. Embree Financial Group acquired a new stake in shares of Tesla during the fourth quarter worth about $344,000. Cora Capital Advisors LLC grew its holdings in shares of Tesla by 3.6% in the fourth quarter. Cora Capital Advisors LLC now owns 881 shares of the electric vehicle producer’s stock valued at $356,000 after purchasing an additional 31 shares in the last quarter. Finally, Avaii Wealth Management LLC increased its stake in Tesla by 0.9% during the 4th quarter. Avaii Wealth Management LLC now owns 3,636 shares of the electric vehicle producer’s stock worth $1,468,000 after buying an additional 31 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Robert W. Baird lifted their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Guggenheim upped their target price on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Finally, Evercore ISI lifted their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $313.84.

Tesla Stock Up 0.3 %

Tesla stock opened at $398.31 on Wednesday. The stock has a 50 day moving average of $399.99 and a two-hundred day moving average of $295.57. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.13, a PEG ratio of 8.42 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 over the last three months. 20.70% of the stock is currently 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.