Spectrum Wealth Advisory Group LLC Has $408,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Spectrum Wealth Advisory Group LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,010 shares of the electric vehicle producer’s stock after purchasing an additional 197 shares during the quarter. Spectrum Wealth Advisory Group LLC’s holdings in Tesla were worth $408,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the third quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla during the fourth quarter worth approximately $46,000. PayPay Securities Corp raised its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 in the last quarter. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSLA. JPMorgan Chase & Co. increased their price target on Tesla from $130.00 to $135.00 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 target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research report on Thursday, January 30th. Wells Fargo & Company increased their price target on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $326.50.

Tesla Stock Up 1.8 %

Shares of NASDAQ TSLA opened at $360.56 on Thursday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The business has a 50-day simple moving average of $403.41 and a two-hundred day simple moving average of $311.13. 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 $1.16 trillion, a P/E ratio of 176.75, a P/E/G ratio of 5.89 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.