Financial Enhancement Group LLC Makes New $672,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Financial Enhancement Group LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,667 shares of the electric vehicle producer’s stock, valued at approximately $672,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Acropolis Investment Management LLC raised its holdings in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares in the last quarter. Connable Office Inc. lifted its position in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the last quarter. Community Bank N.A. boosted its stake in Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares in the last quarter. Finally, Holistic Financial Partners grew its holdings in shares of Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’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 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 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. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. HSBC reaffirmed a “reduce” rating and issued a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $299.33.

Tesla Trading Up 3.1 %

Shares of TSLA opened at $426.50 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The firm has a 50 day simple moving average of $387.84 and a 200-day simple moving average of $286.58.

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

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.