1900 Wealth Management LLC Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

1900 Wealth Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 511 shares of the electric vehicle producer’s stock, valued at approximately $206,000.

A number of other large investors have also added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new position in Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. increased its position in Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares during the period. Finley Financial LLC bought a new position in Tesla during the 4th quarter worth $64,000. Finally, Abich Financial Wealth Management LLC increased its position in Tesla by 136.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after buying an additional 176 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $350.73 on Tuesday. 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 company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 171.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The business has a 50-day moving average of $408.27 and a 200-day moving average of $304.55.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 anticipate that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % 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 Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 635,776 shares of company stock worth $231,335,112. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday. Canaccord Genuity Group increased their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Mizuho reissued an “outperform” rating and set a $515.00 target price on shares of Tesla in a report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $321.71.

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.