Fonville Wealth Management LLC Acquires Shares of 1,438 Tesla, Inc. (NASDAQ:TSLA)

Fonville Wealth Management LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,438 shares of the electric vehicle producer’s stock, valued at approximately $357,000.

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

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on 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 sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last ninety days. 25.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. HSBC dropped their target price on Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 3rd. Mizuho restated a “neutral” rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a research report on Monday, March 25th. TD Cowen lowered their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday. Finally, China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given 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.

Tesla Trading Down 3.6 %

Shares of NASDAQ:TSLA traded down $5.52 on Thursday, reaching $149.93. 95,522,509 shares of the company traded hands, compared to its average volume of 101,837,430. The business’s 50-day simple moving average is $180.24 and its 200 day simple moving average is $212.64. Tesla, Inc. has a 52 week low of $148.70 and a 52 week high of $299.29. The stock has a market capitalization of $477.50 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 4.15 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 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 business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. As a group, equities analysts anticipate 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.