RWA Wealth Partners LLC Purchases 26,382 Shares of Tesla, Inc. (NASDAQ:TSLA)

RWA Wealth Partners LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1,075.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,836 shares of the electric vehicle producer’s stock after acquiring an additional 26,382 shares during the quarter. RWA Wealth Partners LLC’s holdings in Tesla were worth $7,165,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mount Vernon Associates Inc. MD lifted its holdings in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares during the period. Oak Ridge Investments LLC lifted its holdings in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after acquiring an additional 25,943 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after acquiring an additional 6,615 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after acquiring an additional 81,729 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSLA shares. TD Cowen cut their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Mizuho reaffirmed a “neutral” rating and issued a $195.00 price target (down from $270.00) on shares of Tesla in a report on Monday, March 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $298.00 price target on shares of Tesla in a report on Wednesday, March 27th. Finally, China Renaissance initiated coverage on Tesla in a report on Monday, February 26th. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $194.70.

Tesla Price Performance

Tesla stock opened at $143.49 on Tuesday. The firm has a market capitalization of $456.99 billion, a P/E ratio of 32.96, a PEG ratio of 3.89 and a beta of 2.40. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The business has a 50-day moving average of $177.59 and a 200-day moving average of $210.05. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (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 return on equity of 16.62% and a net margin of 15.50%. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value 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. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last 90 days. Corporate insiders own 20.90% 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.