Fortis Capital Management LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Fortis Capital Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,194 shares of the electric vehicle producer’s stock after buying an additional 3,187 shares during the period. Tesla accounts for about 1.8% of Fortis Capital Management LLC’s holdings, making the stock its 11th largest holding. Fortis Capital Management LLC’s holdings in Tesla were worth $9,770,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hengehold Capital Management LLC lifted its holdings in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC boosted its holdings in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD grew its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares in the last quarter. Finally, Vista Finance LLC raised its position in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler dropped their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday. Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Benchmark initiated coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $550.00 target price on shares of Tesla in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $318.93.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $248.71 on Friday. The stock has a market cap of $799.98 billion, a price-to-earnings ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50. 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, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s 50 day moving average price is $335.19 and its 200 day moving average price is $320.44.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.