Avantax Advisory Services Inc. Acquires 7,906 Shares of Tesla, Inc. (NASDAQ:TSLA)

Avantax Advisory Services Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,748 shares of the electric vehicle producer's stock after acquiring an additional 7,906 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Tesla were worth $23,543,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer's stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares during the period. Morgan Stanley lifted its position in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer's stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. FMR LLC lifted its position in Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer's stock worth $7,266,572,000 after purchasing an additional 269,182 shares during the period. Northern Trust Corp lifted its position in Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer's stock worth $6,891,765,000 after purchasing an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer's stock worth $3,765,933,000 after purchasing an additional 458,804 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 2.0 %

TSLA stock traded down $3.50 during midday trading on Friday, hitting $168.47. The stock had a trading volume of 72,627,178 shares, compared to its average volume of 105,518,592. The firm has a market cap of $537.28 billion, a P/E ratio of 42.98, a price-to-earnings-growth ratio of 4.65 and a beta of 2.41. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The business has a fifty day moving average price of $171.29 and a two-hundred day moving average price of $203.50.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLA. China Renaissance began coverage on shares of Tesla in a research report on Monday, February 26th. They set a "hold" rating for the company. Truist Financial cut their price objective on shares of Tesla from $176.00 to $162.00 and set a "hold" rating for the company in a research report on Wednesday, April 24th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 24th. UBS Group lowered their target price on Tesla from $160.00 to $147.00 and set a "neutral" rating for the company in a research note on Wednesday, April 24th. Finally, Piper Sandler reissued an "overweight" rating and set a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus target price of $185.90.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 302,803 shares of company stock worth $56,124,840. Company insiders own 25.10% of the company's stock.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.