Sandro Wealth Management LLC Takes Position in Tesla, Inc. $TSLA

Sandro Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLAFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,800 shares of the electric vehicle producer’s stock, valued at approximately $809,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Artemis Investment Management LLP lifted its stake in shares of Tesla by 54.9% in the 4th quarter. Artemis Investment Management LLP now owns 99,598 shares of the electric vehicle producer’s stock valued at $44,791,000 after purchasing an additional 35,306 shares during the period. LMG Wealth Partners LLC raised its stake in Tesla by 1.4% during the fourth quarter. LMG Wealth Partners LLC now owns 12,825 shares of the electric vehicle producer’s stock valued at $5,768,000 after buying an additional 171 shares during the last quarter. Signature Wealth Management Partners LLC raised its stake in Tesla by 2.3% during the fourth quarter. Signature Wealth Management Partners LLC now owns 2,051 shares of the electric vehicle producer’s stock valued at $922,000 after buying an additional 46 shares during the last quarter. SevenBridge Financial Group LLC raised its stake in Tesla by 17.6% during the fourth quarter. SevenBridge Financial Group LLC now owns 1,461 shares of the electric vehicle producer’s stock valued at $636,000 after buying an additional 219 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in Tesla by 2,257.5% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,664 shares of the electric vehicle producer’s stock valued at $1,149,000 after buying an additional 2,551 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.4%

Tesla stock opened at $390.82 on Friday. The firm has a market cap of $1.47 trillion, a price-to-earnings ratio of 358.55, a PEG ratio of 14.52 and a beta of 1.79. The stock has a fifty day simple moving average of $383.09 and a two-hundred day simple moving average of $419.29. Tesla, Inc. has a 12 month low of $271.00 and a 12 month high of $498.83. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Equities analysts predict that Tesla, Inc. will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 25,809 shares of Tesla stock in a transaction on Monday, March 30th. The stock was sold at an average price of $359.33, for a total value of $9,273,947.97. Following the completion of the sale, the director owned 33,860 shares of the company’s stock, valued at $12,166,913.80. The trade was a 43.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction on Friday, March 6th. The stock was sold at an average price of $397.03, for a total value of $898,875.92. Following the completion of the sale, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at $7,188,625.18. The trade was a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 53,804 shares of company stock valued at $20,865,598 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. Phillip Securities lifted their price objective on Tesla from $215.00 to $220.00 and gave the company a “sell” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a research note on Wednesday, April 22nd. William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, January 2nd. Morgan Stanley set a $415.00 price objective on Tesla and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Finally, Truist Financial lowered their price objective on Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a research note on Thursday, April 2nd. Nineteen equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $398.42.

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About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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