Peterson Wealth Services Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Peterson Wealth Services acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 47,106 shares of the electric vehicle producer’s stock, valued at approximately $11,711,000. Tesla accounts for approximately 5.0% of Peterson Wealth Services’ portfolio, making the stock its 3rd biggest position.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Tesla in the 4th quarter worth approximately $3,459,540,000. Moneta Group Investment Advisors LLC lifted its holdings in Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Tesla by 203.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after purchasing an additional 13,558,882 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Tesla by 26.3% in the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after purchasing an additional 5,292,464 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TSLA shares. TD Cowen decreased their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Piper Sandler decreased their price objective on Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Redburn Atlantic started coverage on Tesla in a report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective on the stock. Barclays decreased their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Citigroup decreased their price objective on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $194.70.

Tesla Trading Down 2.7 %

Tesla stock traded down $4.19 during mid-day trading on Thursday, hitting $151.26. The company’s stock had a trading volume of 36,572,452 shares, compared to its average volume of 100,959,445. The company has a 50 day moving average of $180.24 and a 200-day moving average of $212.64. The stock has a market cap of $481.73 billion, a PE ratio of 36.07, a P/E/G ratio of 4.15 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a one year low of $148.70 and a one year high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the company posted $1.07 EPS. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current year.

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.