Fifth Third Wealth Advisors LLC Has $17.53 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fifth Third Wealth Advisors LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,400 shares of the electric vehicle producer’s stock after acquiring an additional 6,225 shares during the period. Tesla comprises about 1.0% of Fifth Third Wealth Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Fifth Third Wealth Advisors LLC’s holdings in Tesla were worth $17,527,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Oak Thistle LLC bought a new stake in shares of Tesla during the fourth quarter worth $3,022,000. Floyd Financial Group LLC bought a new position in Tesla during the 4th quarter worth about $1,954,000. Define Financial LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $286,000. Pines Wealth Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at about $2,067,000. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Tesla by 16.8% during the fourth quarter. SeaCrest Wealth Management LLC now owns 21,451 shares of the electric vehicle producer’s stock worth $8,663,000 after buying an additional 3,093 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $428.22 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company’s 50 day moving average price is $382.71 and its two-hundred day moving average price is $284.69. The firm has a market cap of $1.37 trillion, a PE ratio of 117.32, a PEG ratio of 10.80 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. Equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TSLA shares. HSBC restated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and raised their target price for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Truist Financial reissued a “hold” rating and set a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Royal Bank of Canada raised their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $299.33.

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.