Masso Torrence Wealth Management Inc. Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Masso Torrence Wealth Management Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,861 shares of the electric vehicle producer’s stock after purchasing an additional 627 shares during the period. Tesla comprises 1.2% of Masso Torrence Wealth Management Inc.’s holdings, making the stock its 22nd largest holding. Masso Torrence Wealth Management Inc.’s holdings in Tesla were worth $1,705,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC purchased a new position in Tesla during the 4th quarter worth $25,000. Lam Group Inc. purchased a new position in Tesla during the 4th quarter worth $25,000. Mendota Financial Group LLC grew its stake in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV grew its stake in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. grew its stake in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other 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 value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last ninety days. Company insiders own 20.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $2.58 during midday trading on Tuesday, hitting $144.63. The company had a trading volume of 83,604,871 shares, compared to its average volume of 101,447,523. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The stock has a market cap of $460.62 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40. The business’s 50-day simple moving average is $177.59 and its 200-day simple moving average is $210.05.

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

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Citigroup dropped their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Jefferies Financial Group dropped their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $194.33.

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.