Wernau Asset Management Inc. Acquires Shares of 3,985 Tesla, Inc. (NASDAQ:TSLA)

Wernau Asset Management Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,985 shares of the electric vehicle producer’s stock, valued at approximately $1,609,000. Tesla accounts for about 1.2% of Wernau Asset Management Inc.’s holdings, making the stock its 16th biggest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter valued at $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter worth about $46,000. PayPay Securities Corp raised its position in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the 3rd quarter worth about $35,000. Finally, Finley Financial LLC purchased a new position in shares of Tesla in the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 4.4 %

Shares of NASDAQ:TSLA opened at $272.11 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a 50 day moving average of $378.63 and a 200 day moving average of $318.40. The company has a market cap of $875.24 billion, a PE ratio of 133.39, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. UBS Group reaffirmed a “neutral” rating on shares of Tesla in a research report on Tuesday. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus decreased their target price on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $315.33.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,996 shares of company stock worth $118,467,387 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.