Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 34.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,033 shares of the electric vehicle producer’s stock after acquiring an additional 518 shares during the period. Washington Trust Advisors Inc.’s holdings in Tesla were worth $505,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new stake in shares of Tesla in the third quarter valued at $25,000. Wyrmwood Management LLC purchased a new stake in Tesla in the 4th quarter valued at about $25,000. Halpern Financial Inc. lifted its holdings in shares of Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 100 shares during the period. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $27,000. Finally, MayTech Global Investments LLC acquired a new position in Tesla during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TSLA shares. Citigroup lowered their price objective on shares of Tesla from $224.00 to $196.00 and set a “neutral” rating for the company in a research note on Wednesday. Robert W. Baird restated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Thursday, January 25th. Guggenheim lifted their price objective on Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research note on Friday, December 15th. KGI Securities reaffirmed a “neutral” rating and set a $213.00 price target (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, Wedbush dropped their price objective on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $204.63.

Tesla Stock Performance

TSLA stock traded down $3.06 during trading on Thursday, reaching $176.77. 58,133,499 shares of the company’s stock were exchanged, compared to its average volume of 102,331,883. The firm has a market cap of $562.98 billion, a PE ratio of 41.23, a P/E/G ratio of 4.01 and a beta of 2.41. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The company’s fifty day moving average price is $188.49 and its 200-day moving average price is $222.36.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. On average, research analysts expect that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity

In other Tesla 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 value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,598 shares of company stock worth $36,952,434. 20.90% of the stock is owned by company insiders.

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.