Weatherly Asset Management L. P. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Weatherly Asset Management L. P. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,979 shares of the electric vehicle producer’s stock after buying an additional 40 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Tesla were worth $6,049,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the last quarter. Finley Financial LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Tesla by 136.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 0.0 %

Shares of NASDAQ TSLA opened at $355.84 on Friday. The business has a fifty day simple moving average of $406.98 and a 200-day simple moving average of $306.79. The company has a market cap of $1.14 trillion, a price-to-earnings ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its 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%. Sell-side analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 in the last three months. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TSLA. Robert W. Baird dropped their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research report on Thursday, January 30th. UBS Group boosted their price objective on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, Wedbush upped their target price on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $326.50.

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.