Pacific Capital Wealth Advisors Inc. Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pacific Capital Wealth Advisors Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,122 shares of the electric vehicle producer’s stock after buying an additional 60 shares during the period. Pacific Capital Wealth Advisors Inc.’s holdings in Tesla were worth $776,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. acquired a new position in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC boosted its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. boosted 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 worth $47,000 after acquiring an additional 100 shares during the last quarter. Finally, Cordant Inc. acquired a new position in Tesla during the third quarter worth about $53,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein lowered their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Evercore ISI decreased their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Citigroup boosted their target price on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Mizuho decreased their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, HSBC decreased their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $185.90.

Tesla Stock Down 1.7 %

Shares of Tesla stock traded down $3.09 during trading hours on Wednesday, hitting $174.72. The company had a trading volume of 79,844,724 shares, compared to its average volume of 103,846,883. The company’s 50-day moving average is $173.12 and its two-hundred day moving average is $204.32. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $557.22 billion, a P/E ratio of 44.57, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction 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 transaction, the senior vice president now directly 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 at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the 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 sale, 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. In the last quarter, insiders sold 302,803 shares of company stock worth $56,124,840. Corporate insiders own 20.90% of the company’s stock.

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.