Foster Victor Wealth Advisors LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Foster Victor Wealth Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,597 shares of the electric vehicle producer's stock after acquiring an additional 1,034 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Tesla were worth $1,664,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. increased its position in shares of Tesla by 193.3% during 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 during the period. Navigoe LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter worth about $38,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TSLA shares. Bank of America reduced their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Canaccord Genuity Group cut their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Cantor Fitzgerald dropped their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $293.67.

Tesla Trading Up 1.8%

Shares of TSLA stock traded up $5.64 during trading hours on Wednesday, reaching $321.99. The company's stock had a trading volume of 94,089,236 shares, compared to its average volume of 100,657,177. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 176.92, a P/E/G ratio of 12.36 and a beta of 2.47. The firm's fifty day simple moving average is $302.42 and its 200 day simple moving average is $332.66.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm earned $0.45 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company's stock.

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.