J.W. Cole Advisors Inc. Purchases 6,615 Shares of Tesla, Inc. (NASDAQ:TSLA)

J.W. Cole Advisors Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,414 shares of the electric vehicle producer’s stock after acquiring an additional 6,615 shares during the quarter. Tesla accounts for approximately 0.7% of J.W. Cole Advisors Inc.’s portfolio, making the stock its 23rd largest holding. J.W. Cole Advisors Inc.’s holdings in Tesla were worth $11,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Axiom Financial Strategies LLC raised its holdings in Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares in the last quarter. MAS Advisors LLC lifted its stake in Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after purchasing an additional 81 shares in the last quarter. Ergoteles LLC lifted its stake in Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSLA. UBS Group lowered their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Sanford C. Bernstein lowered their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. The Goldman Sachs Group decreased their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Finally, Edward Jones lowered Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $194.70.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’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 transaction 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 $6,376,229.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last ninety days. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $2.88 during midday trading on Friday, reaching $147.05. The stock had a trading volume of 86,914,652 shares, compared to its average volume of 101,650,617. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The stock has a market capitalization of $468.32 billion, a P/E ratio of 34.12, a PEG ratio of 4.11 and a beta of 2.39. The firm’s fifty day simple moving average is $178.51 and its 200-day simple moving average is $211.48. Tesla, Inc. has a 1-year low of $146.22 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly 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). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 1.97 EPS 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.