DKM Wealth Management Inc. Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

DKM Wealth Management Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,245 shares of the electric vehicle producer’s stock, valued at approximately $503,000. Tesla accounts for approximately 0.5% of DKM Wealth Management Inc.’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors have also recently made changes to their positions in TSLA. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. grew its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new position in Tesla during the fourth quarter worth $38,000. Delos Wealth Advisors LLC lifted its holdings in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $44,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock opened at $268.46 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The business’s 50-day moving average is $314.87 and its two-hundred day moving average is $323.48. The firm has a market capitalization of $863.51 billion, a P/E ratio of 131.60, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley reduced their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Mizuho reduced their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $550.00 price objective on shares of Tesla in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $317.75.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 over the last three months. Insiders own 20.70% of the company’s stock.

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.