Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Fortress Wealth Management Inc.

Fortress Wealth Management Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,762 shares of the electric vehicle producer’s stock after buying an additional 401 shares during the period. Fortress Wealth Management Inc.’s holdings in Tesla were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter worth $29,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter worth about $35,000. Finley Financial LLC acquired a new position in Tesla during the fourth quarter worth about $64,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock opened at $404.60 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30. The firm has a fifty day moving average of $403.18 and a 200-day moving average of $297.99. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. As a group, analysts predict that Tesla, Inc. will post 2.82 EPS for the current year.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 553,386 shares of company stock valued at $196,305,796. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Robert W. Baird dropped their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday. Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday. Morgan Stanley raised their target price on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wedbush increased their price target on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Canaccord Genuity Group lifted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $318.31.

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.