Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Worth Asset Management LLC

Worth Asset Management LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 383.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,314 shares of the electric vehicle producer’s stock after purchasing an additional 6,593 shares during the quarter. Tesla accounts for 1.8% of Worth Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Worth Asset Management LLC’s holdings in Tesla were worth $3,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group increased its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Tesla during the 2nd quarter valued at $26,000. Finally, Peterson Financial Group Inc. acquired a new position in Tesla during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $0.67 during mid-day trading on Wednesday, reaching $393.69. The company had a trading volume of 43,719,389 shares, compared to its average volume of 81,567,711. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $1.26 trillion, a PE ratio of 107.86, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $368.03 and a two-hundred day moving average price of $277.49.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TSLA shares. Canaccord Genuity Group upped their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Bank of America cut 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. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada upped their price target on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Finally, Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla 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.