EP Wealth Advisors LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

EP Wealth Advisors LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,718 shares of the electric vehicle producer's stock after acquiring an additional 3,848 shares during the quarter. EP Wealth Advisors LLC's holdings in Tesla were worth $28,559,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TSLA. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. grew its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla in the 4th quarter valued at $37,000. CoreFirst Bank & Trust acquired a new position in Tesla during the 4th quarter worth about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Mizuho cut their price target on shares of Tesla from $375.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and lifted their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Cantor Fitzgerald reduced their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus price target of $287.46.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $275.35 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $258.47 and a 200 day simple moving average of $325.98. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The company has a market cap of $886.89 billion, a PE ratio of 134.98, a P/E/G ratio of 5.86 and a beta of 2.43.

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

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $284.40, for a total value of $1,137,600.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,664,580. This represents a 12.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 371,228 shares of company stock worth $111,181,034 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Company 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.

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