Moss Adams Wealth Advisors LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Moss Adams Wealth Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,133 shares of the electric vehicle producer’s stock after purchasing an additional 465 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Tesla were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of TSLA. Vista Finance LLC increased its stake in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the period. Jmac Enterprises LLC increased its stake in Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after purchasing an additional 26 shares during the period. TFB Advisors LLC increased its stake in Tesla by 0.5% during the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after purchasing an additional 27 shares during the period. Vista Capital Partners Inc. increased its stake in Tesla by 1.4% during the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after purchasing an additional 27 shares during the period. Finally, Blackston Financial Advisory Group LLC increased its stake in Tesla by 1.3% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $24,274,300. The trade was a 56.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were 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 directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 815,945 shares of company stock worth $273,059,215. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Mizuho boosted their price target on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Argus set a $410.00 target price on shares of Tesla in a report on Thursday, April 24th. Guggenheim reaffirmed a “sell” rating and issued a $170.00 target price on shares of Tesla in a report on Thursday, April 24th. Finally, Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $294.27.

Tesla Stock Performance

NASDAQ:TSLA opened at $295.14 on Monday. The firm’s fifty day moving average price is $292.17 and its 200 day moving average price is $333.51. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $950.63 billion, a price-to-earnings ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter last year, the business earned $0.45 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.