Waverly Advisors LLC Purchases 4,726 Shares of Tesla, Inc. (NASDAQ:TSLA)

Waverly Advisors LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,306 shares of the electric vehicle producer's stock after purchasing an additional 4,726 shares during the quarter. Waverly Advisors LLC's holdings in Tesla were worth $16,277,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TSLA. Norges Bank bought a new stake in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC boosted its position in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Tesla stock opened at $342.09 on Tuesday. The business's 50-day simple moving average is $269.23 and its 200 day simple moving average is $331.30. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 167.69, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. 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 results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $8,085,000. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 412,623 shares of company stock worth $115,600,501. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TSLA shares. StockNews.com lowered Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Royal Bank of Canada cut their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $289.43.

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.

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