Peak Financial Management Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Peak Financial Management Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLAFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 794 shares of the electric vehicle producer’s stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter valued at $29,000. Clean Yield Group boosted its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new position in Tesla during the 3rd quarter valued at about $35,000. M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Finally, Quarry LP purchased a new stake in shares of Tesla in the second quarter worth approximately $48,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 2.3 %

Shares of Tesla stock opened at $389.10 on Thursday. The company’s fifty day moving average price is $401.04 and its two-hundred day moving average price is $296.63. The firm has a market capitalization of $1.25 trillion, a PE ratio of 106.60, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. On average, analysts expect that Tesla, Inc. will post 2.01 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. UBS Group raised their price target on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Finally, Canaccord Genuity Group lifted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $313.84.

View Our Latest Report on Tesla

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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