MONECO Advisors LLC Has $2.24 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

MONECO Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 9,032 shares of the electric vehicle producer’s stock after buying an additional 244 shares during the period. MONECO Advisors LLC’s holdings in Tesla were worth $2,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Holderness Investments Co. grew its holdings in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares during the period. SCS Capital Management LLC boosted its stake in shares of Tesla by 0.3% during the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after acquiring an additional 45 shares during the period. Daymark Wealth Partners LLC boosted its stake in shares of Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after acquiring an additional 45 shares during the period. Cravens & Co Advisors LLC raised its stake in Tesla by 1.2% in the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after acquiring an additional 48 shares during the period. Finally, Patten & Patten Inc. TN lifted its holdings in Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 5.3 %

Shares of NASDAQ:TSLA opened at $187.44 on Tuesday. The business has a fifty day simple moving average of $173.19 and a 200 day simple moving average of $194.61. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The firm has a market cap of $597.78 billion, a P/E ratio of 47.82, a P/E/G ratio of 4.41 and a beta of 2.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock worth $19,285,643 over the last quarter. Company insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HSBC dropped their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Finally, Royal Bank of Canada cut their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $185.90.

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.