Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,974 shares of the electric vehicle producer’s stock after buying an additional 118 shares during the period. Sovereign Financial Group Inc.’s holdings in Tesla were worth $490,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Simmons Bank grew its stake in shares of Tesla by 7.6% during the 4th quarter. Simmons Bank now owns 2,424 shares of the electric vehicle producer’s stock valued at $602,000 after buying an additional 172 shares during the period. Peddock Capital Advisors LLC raised its holdings in shares of Tesla by 11.4% in the 4th quarter. Peddock Capital Advisors LLC now owns 1,461 shares of the electric vehicle producer’s stock worth $363,000 after purchasing an additional 150 shares during the period. Charles Schwab Investment Advisory Inc. increased its position in Tesla by 2.8% during the 4th quarter. Charles Schwab Investment Advisory Inc. now owns 4,319 shares of the electric vehicle producer’s stock worth $1,073,000 after purchasing an additional 117 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tesla by 3.1% during the fourth 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 buying an additional 458,804 shares in the last quarter. Finally, Capital Performance Advisors LLP raised its stake in shares of Tesla by 214.1% in the 4th quarter. Capital Performance Advisors LLP now owns 2,849 shares of the electric vehicle producer’s stock valued at $708,000 after acquiring an additional 1,942 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Evercore ISI reduced their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Canaccord Genuity Group cut their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $275.00 price target on shares of Tesla in a research note on Monday, April 29th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.90.

Insider Activity

In related news, 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 value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla 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 completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction 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 of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 302,803 shares of company stock worth $56,124,840 over the last 90 days. 20.90% of the stock is owned by company insiders.

Tesla Price Performance

Shares of TSLA traded down $6.95 during trading hours on Tuesday, hitting $177.81. 74,627,156 shares of the company were exchanged, compared to its average volume of 104,115,875. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a market capitalization of $567.07 billion, a PE ratio of 45.36, a PEG ratio of 4.74 and a beta of 2.41. 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 firm has a fifty day simple moving average of $173.12 and a 200-day simple moving average of $204.32.

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.