Cassady Schiller Wealth Management LLC Purchases 192 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cassady Schiller Wealth Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 794 shares of the electric vehicle producer’s stock after purchasing an additional 192 shares during the quarter. Cassady Schiller Wealth Management LLC’s holdings in Tesla were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pitti Group Wealth Management LLC grew its holdings in shares of Tesla by 2.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock valued at $594,000 after purchasing an additional 31 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Tesla by 12.9% during the 4th quarter. Parallel Advisors LLC now owns 65,290 shares of the electric vehicle producer’s stock valued at $26,367,000 after purchasing an additional 7,439 shares during the last quarter. SouthState Corp grew its holdings in shares of Tesla by 4.3% during the 4th quarter. SouthState Corp now owns 3,118 shares of the electric vehicle producer’s stock valued at $1,259,000 after purchasing an additional 129 shares during the last quarter. Gold Investment Management Ltd. grew its holdings in shares of Tesla by 90.5% during the 4th quarter. Gold Investment Management Ltd. now owns 13,000 shares of the electric vehicle producer’s stock valued at $5,250,000 after purchasing an additional 6,176 shares during the last quarter. Finally, Rockport Wealth LLC bought a new stake in shares of Tesla during the 4th quarter valued at approximately $244,000. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price target on shares of Tesla in a report on Tuesday, March 11th. Wedbush reissued an “outperform” rating and set a $550.00 target price on shares of Tesla in a report on Friday, March 7th. Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $325.65.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $249.98 on Monday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $804.06 billion, a price-to-earnings ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50. The company has a fifty day moving average price of $351.31 and a 200-day moving average price of $320.31.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.