Advance Capital Management Inc. Buys 720 Shares of Tesla, Inc. (NASDAQ:TSLA)

Advance Capital Management Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,851 shares of the electric vehicle producer’s stock after acquiring an additional 720 shares during the quarter. Advance Capital Management Inc.’s holdings in Tesla were worth $1,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group increased its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% during 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 during the period. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter valued at about $26,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth about $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. Stifel Nicolaus lifted their target price on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research note on Monday. UBS Group boosted their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Evercore ISI raised their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday. Finally, Jefferies Financial Group increased their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $292.97.

Tesla Stock Up 0.1 %

Shares of NASDAQ TSLA traded up $0.61 during midday trading on Monday, reaching $411.05. 84,448,354 shares of the company’s stock traded hands, compared to its average volume of 93,771,773. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.62, a P/E/G ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $362.37 and its 200-day simple moving average is $274.38.

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

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is currently owned by insiders.

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.