NewEdge Advisors LLC Has $112.98 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

NewEdge Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,932 shares of the electric vehicle producer’s stock after buying an additional 36,725 shares during the period. Tesla accounts for approximately 0.7% of NewEdge Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. NewEdge Advisors LLC’s holdings in Tesla were worth $112,977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Tesla during the 4th quarter valued at $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after acquiring an additional 4,374,746 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 0.7 %

TSLA stock opened at $254.11 on Wednesday. The stock has a 50-day simple moving average of $280.27 and a two-hundred day simple moving average of $323.03. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market capitalization of $817.35 billion, a PE ratio of 124.56, a PEG 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 data 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 net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was 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 owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock worth $123,791,123 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Evercore ISI boosted their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Truist Financial decreased their price target on Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Glj Research reissued a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Bank of America cut their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group lowered their target price on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $298.59.

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.