Wetzel Investment Advisors Inc. Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Wetzel Investment Advisors Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,345 shares of the electric vehicle producer’s stock, valued at approximately $334,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Evolution Wealth Advisors LLC grew its position in Tesla by 13.8% in the fourth quarter. Evolution Wealth Advisors LLC now owns 3,740 shares of the electric vehicle producer’s stock valued at $929,000 after purchasing an additional 454 shares in the last quarter. Naples Money Management LLC bought a new position in Tesla in the fourth quarter valued at $343,000. Zhang Financial LLC grew its position in Tesla by 2.2% in the fourth quarter. Zhang Financial LLC now owns 6,713 shares of the electric vehicle producer’s stock valued at $1,668,000 after purchasing an additional 147 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its position in Tesla by 1.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 49,017 shares of the electric vehicle producer’s stock valued at $12,180,000 after purchasing an additional 484 shares in the last quarter. Finally, Wheelhouse Advisory Group LLC bought a new position in Tesla in the fourth quarter valued at $1,034,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.9 %

Shares of 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 firm has a market cap of $468.32 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 4.11 and a beta of 2.39. Tesla, Inc. has a twelve month low of $146.22 and a twelve month high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company’s 50 day moving average price is $178.51 and its 200 day moving average price is $211.48.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last quarter. Company insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Sanford C. Bernstein decreased their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. The Goldman Sachs Group decreased their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Truist Financial decreased their price objective on shares of Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Tesla from a “buy” rating to a “hold” rating and decreased their price objective for the company from $189.00 to $123.00 in a research report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Ten investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $194.70.

About Tesla

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.