Redhawk Wealth Advisors Inc. Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Redhawk Wealth Advisors Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,268 shares of the electric vehicle producer’s stock after buying an additional 516 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Tesla were worth $3,339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bradley Foster & Sargent Inc. CT boosted its holdings in Tesla by 36.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock valued at $554,000 after purchasing an additional 747 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Tesla in the 2nd quarter valued at approximately $1,680,000. Sienna Gestion boosted its stake in shares of Tesla by 0.6% during the 2nd quarter. Sienna Gestion now owns 68,542 shares of the electric vehicle producer’s stock valued at $13,557,000 after buying an additional 405 shares during the last quarter. Paces Ferry Wealth Advisors LLC grew its position in shares of Tesla by 8.4% during the second quarter. Paces Ferry Wealth Advisors LLC now owns 4,370 shares of the electric vehicle producer’s stock worth $865,000 after buying an additional 340 shares in the last quarter. Finally, Intrepid Financial Planning Group LLC bought a new stake in shares of Tesla in the second quarter worth $223,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, HSBC restated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $299.33.

Tesla Stock Performance

TSLA opened at $413.82 on Friday. The business has a 50 day moving average price of $385.50 and a two-hundred day moving average price of $285.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 113.38, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

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

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. Corporate insiders own 20.70% of the company’s stock.

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.