ERn Financial LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

ERn Financial LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,135 shares of the electric vehicle producer’s stock after acquiring an additional 505 shares during the quarter. ERn Financial LLC’s holdings in Tesla were worth $5,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bradley Foster & Sargent Inc. CT raised its position in Tesla by 36.4% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock valued at $554,000 after purchasing an additional 747 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Tesla during the second quarter valued at about $1,680,000. Sienna Gestion raised its position in Tesla by 0.6% during the second quarter. Sienna Gestion now owns 68,542 shares of the electric vehicle producer’s stock valued at $13,557,000 after purchasing an additional 405 shares in the last quarter. Paces Ferry Wealth Advisors LLC raised its position in Tesla by 8.4% during the second quarter. Paces Ferry Wealth Advisors LLC now owns 4,370 shares of the electric vehicle producer’s stock valued at $865,000 after purchasing an additional 340 shares in the last quarter. Finally, Intrepid Financial Planning Group LLC purchased a new stake in Tesla during the second quarter valued at about $223,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TSLA shares. JPMorgan Chase & Co. raised 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. Guggenheim lifted their price objective on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $299.33.

Tesla Price Performance

TSLA stock opened at $413.82 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 113.38, a PEG ratio of 6.53 and a beta of 2.30. The firm has a 50 day moving average price of $385.50 and a 200-day moving average price of $285.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts forecast that Tesla, Inc. will post 1.99 EPS 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.