Evolution Wealth Advisors LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Evolution Wealth Advisors LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,740 shares of the electric vehicle producer’s stock after purchasing an additional 454 shares during the period. Evolution Wealth Advisors LLC’s holdings in Tesla were worth $929,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after buying an additional 3,453,078 shares in the last quarter. State Street Corp lifted its position in shares of Tesla by 0.7% during the 1st quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after buying an additional 685,454 shares in the last quarter. Morgan Stanley lifted its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. FMR LLC lifted its position in shares of Tesla by 0.9% during the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares in the last quarter. Finally, Norges Bank acquired a new position in Tesla in the 4th quarter valued at $3,459,540,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.9 %

Tesla stock traded down $2.88 during midday trading on Friday, reaching $147.05. 86,914,652 shares of the stock traded hands, compared to its average volume of 101,650,617. The company has a 50-day simple moving average of $179.45 and a two-hundred day simple moving average of $212.21. Tesla, Inc. has a 12-month low of $146.22 and a 12-month high of $299.29. The firm has a market cap of $468.32 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 4.11 and a beta of 2.39. 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 announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the business earned $1.07 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup reduced their price objective on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Wednesday. Barclays reduced their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday. Redburn Atlantic assumed coverage on Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $194.70.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The shares were 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 owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 in the last three months. 25.10% of the stock is owned by company insiders.

Tesla Company 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.