Davidson Investment Advisors Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Davidson Investment Advisors increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,678 shares of the electric vehicle producer’s stock after buying an additional 208 shares during the period. Davidson Investment Advisors’ holdings in Tesla were worth $678,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter worth $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $337.80 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $400.17 and its 200 day moving average is $312.40. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Mizuho reiterated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Wedbush upped their target price on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $326.50.

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.