Evolution Wealth Advisors LLC Has $993,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Evolution Wealth Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 51.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,646 shares of the electric vehicle producer’s stock after purchasing an additional 1,906 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Tesla were worth $993,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. raised its holdings in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Norges Bank bought a new position in shares of Tesla in the 4th quarter valued at about $7,844,757,000. Morgan Stanley grew its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after acquiring an additional 458,804 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

TSLA stock traded up $15.13 during trading on Wednesday, reaching $246.39. 164,907,094 shares of the company were exchanged, compared to its average volume of 97,060,453. The company has a 50-day moving average of $180.89 and a two-hundred day moving average of $190.93. The company has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 4.91 and a beta of 2.31. 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.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. As a group, equities analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing 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 on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. UBS Group reduced their target price on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday. New Street Research reaffirmed a “buy” rating and set a $235.00 target price on shares of Tesla in a report on Tuesday, June 25th. Finally, Jefferies Financial Group reduced their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $189.47.

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.