Focused Wealth Management Inc Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Focused Wealth Management Inc boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,468 shares of the electric vehicle producer’s stock after acquiring an additional 133 shares during the period. Tesla comprises approximately 1.2% of Focused Wealth Management Inc’s portfolio, making the stock its 18th largest position. Focused Wealth Management Inc’s holdings in Tesla were worth $9,073,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC raised its position in Tesla by 18.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock valued at $651,000 after purchasing an additional 384 shares during the last quarter. Creative Planning boosted its holdings in Tesla by 28.3% in the 3rd quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock valued at $221,677,000 after purchasing an additional 197,839 shares in the last quarter. Swedbank AB boosted its stake in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares in the last quarter. Petredis Investment Advisors LLC lifted its holdings in Tesla by 4.0% in the third quarter. Petredis Investment Advisors LLC now owns 36,056 shares of the electric vehicle producer’s stock valued at $9,433,000 after acquiring an additional 1,380 shares during the period. Finally, First United Bank & Trust boosted its position in shares of Tesla by 222.3% during the 3rd quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock worth $465,000 after purchasing an additional 1,225 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Evercore ISI increased their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. UBS Group lifted their price objective on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Finally, Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and upped their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $326.50.

Tesla Trading Up 2.4 %

TSLA stock opened at $336.51 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. The business has a fifty day simple moving average of $407.68 and a 200-day simple moving average of $306.23. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

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%. On average, equities research analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. 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 635,776 shares of company stock valued at $231,335,112. 20.70% of the stock is currently owned by corporate insiders.

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.