Bragg Financial Advisors Inc Has $11.88 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bragg Financial Advisors Inc increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,409 shares of the electric vehicle producer’s stock after acquiring an additional 537 shares during the period. Bragg Financial Advisors Inc’s holdings in Tesla were worth $11,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Brogan Financial Inc. acquired a new stake in Tesla during the fourth quarter valued at approximately $238,000. Tiller Private Wealth Inc. lifted its position in shares of Tesla by 19.0% during the 4th quarter. Tiller Private Wealth Inc. now owns 1,478 shares of the electric vehicle producer’s stock worth $597,000 after buying an additional 236 shares during the period. Advisors Capital Management LLC boosted its stake in Tesla by 27.3% in the 4th quarter. Advisors Capital Management LLC now owns 21,790 shares of the electric vehicle producer’s stock valued at $8,800,000 after buying an additional 4,675 shares in the last quarter. Seeds Investor LLC grew its position in Tesla by 53.4% in the fourth quarter. Seeds Investor LLC now owns 1,832 shares of the electric vehicle producer’s stock valued at $740,000 after acquiring an additional 638 shares during the period. Finally, Sagespring Wealth Partners LLC bought a new position in shares of Tesla during the fourth quarter valued at $9,127,000. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSLA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Benchmark cut their target price on shares of Tesla from $475.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus decreased their price target on Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. cut their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued 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 a consensus price target of $298.59.

Tesla Stock Performance

Shares of TSLA stock opened at $251.96 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company’s fifty day simple moving average is $285.19 and its 200-day simple moving average is $323.09. The firm has a market cap of $810.42 billion, a PE ratio of 123.51, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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 the consensus estimate 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 expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock worth $123,791,123 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

About Tesla

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.