TCI Wealth Advisors Inc. Has $1.65 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

TCI Wealth Advisors Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,619 shares of the electric vehicle producer’s stock after buying an additional 616 shares during the period. TCI Wealth Advisors Inc.’s holdings in Tesla were worth $1,645,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Noesis Capital Mangement Corp boosted its position in Tesla by 3.1% during the 4th quarter. Noesis Capital Mangement Corp now owns 32,778 shares of the electric vehicle producer’s stock worth $8,145,000 after buying an additional 1,000 shares during the period. FourThought Financial Partners LLC lifted its position in shares of Tesla by 4.4% in the 4th quarter. FourThought Financial Partners LLC now owns 1,390 shares of the electric vehicle producer’s stock worth $345,000 after purchasing an additional 58 shares during the period. Forte Capital LLC ADV lifted its position in shares of Tesla by 3.6% in the 4th quarter. Forte Capital LLC ADV now owns 14,903 shares of the electric vehicle producer’s stock worth $3,703,000 after purchasing an additional 521 shares during the period. Vestmark Advisory Solutions Inc. lifted its position in shares of Tesla by 568.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 75,306 shares of the electric vehicle producer’s stock worth $18,712,000 after purchasing an additional 64,035 shares during the period. Finally, AJOVista LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $569,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Canaccord Genuity Group dropped their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. China Renaissance started coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Guggenheim reiterated a “sell” rating and issued a $122.00 price objective on shares of Tesla in a research note on Tuesday, April 23rd. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $185.90.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, 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 available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The stock was 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 of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock traded up $1.18 during trading hours on Friday, hitting $181.19. 75,491,539 shares of the company’s stock traded hands, compared to its average volume of 112,969,304. The company has a fifty day simple moving average of $173.85 and a 200-day simple moving average of $204.81. 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 stock has a market capitalization of $577.85 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29.

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.