ERTS Wealth Advisors LLC Acquires Shares of 650 Tesla, Inc. (NASDAQ:TSLA)

ERTS Wealth Advisors LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel reports. The fund bought 650 shares of the electric vehicle producer’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Wellington Management Group LLP boosted its holdings in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TSLA shares. Truist Financial reiterated a “hold” rating and issued a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Barclays boosted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Stock Down 1.4 %

Shares of NASDAQ TSLA opened at $406.58 on Friday. The business has a 50-day moving average price of $397.11 and a 200 day moving average price of $292.97. The stock has a market cap of $1.31 trillion, a PE ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 in the last 90 days. Company 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.