Fifth Third Wealth Advisors LLC Purchases 4,485 Shares of Tesla, Inc. (NASDAQ:TSLA)

Fifth Third Wealth Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,885 shares of the electric vehicle producer's stock after acquiring an additional 4,485 shares during the quarter. Tesla makes up about 0.6% of Fifth Third Wealth Advisors LLC's holdings, making the stock its 26th largest position. Fifth Third Wealth Advisors LLC's holdings in Tesla were worth $12,410,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wealth Group Ltd. bought a new stake in shares of Tesla in the fourth quarter valued at $275,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Tesla in the fourth quarter valued at $1,361,000. Tallon Kerry Patrick bought a new stake in shares of Tesla in the fourth quarter valued at $374,000. Eagle Capital Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at $331,000. Finally, Brighton Jones LLC raised its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 1.1%

Shares of NASDAQ:TSLA traded down $3.77 during trading on Monday, hitting $342.69. The stock had a trading volume of 81,499,066 shares, compared to its average volume of 98,086,545. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company has a market capitalization of $1.10 trillion, a PE ratio of 167.99, a PEG ratio of 5.86 and a beta of 2.43. The firm's fifty day moving average is $286.92 and its 200 day moving average is $334.13. 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 - Get Free Report) 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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Joseph Gebbia purchased 4,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were purchased at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the acquisition, the director now directly owns 4,111 shares in the company, valued at $1,053,690.41. The trade was a 3,603.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla 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 completion of the sale, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 866,393 shares of company stock valued at $284,570,654 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of several research reports. BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Piper Sandler set a $400.00 price target on Tesla in a research report on Tuesday, May 6th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $293.97.

Tesla 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.