Cambridge Investment Research Advisors Inc. Purchases 20,619 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cambridge Investment Research Advisors Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 552,393 shares of the electric vehicle producer’s stock after buying an additional 20,619 shares during the quarter. Tesla accounts for about 0.6% of Cambridge Investment Research Advisors Inc.’s investment portfolio, making the stock its 18th biggest position. Cambridge Investment Research Advisors Inc.’s holdings in Tesla were worth $137,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wyrmwood Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. purchased a new position in shares of Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC boosted its stake in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. raised its position in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in Tesla in the 3rd quarter worth approximately $60,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,097 shares of company stock valued at $37,877,471. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TSLA. TD Cowen cut their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Truist Financial decreased their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Morgan Stanley cut their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Finally, Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $185.90.

Tesla Price Performance

NASDAQ:TSLA traded down $6.08 during trading hours on Thursday, reaching $174.03. 52,720,773 shares of the company traded hands, compared to its average volume of 100,657,586. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The firm’s 50-day moving average is $171.15 and its 200-day moving average is $201.74. The stock has a market cap of $555.02 billion, a P/E ratio of 44.82, a P/E/G ratio of 4.58 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Equities research analysts expect that Tesla, Inc. will post 1.89 earnings per share for the current fiscal year.

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.