Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Sterling Financial Group Inc.

Sterling Financial Group Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,694 shares of the electric vehicle producer’s stock after buying an additional 156 shares during the quarter. Sterling Financial Group Inc.’s holdings in Tesla were worth $1,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $4,532,000. StoneCrest Wealth Management Inc. acquired a new stake in Tesla during the 4th quarter valued at $218,000. Kraematon Investment Advisors Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at $219,000. Empirical Asset Management LLC boosted its position in shares of Tesla by 1,739.1% in the fourth quarter. Empirical Asset Management LLC now owns 58,282 shares of the electric vehicle producer’s stock worth $23,537,000 after buying an additional 55,113 shares during the period. Finally, Cvfg LLC acquired a new position in Tesla during the fourth quarter valued at $899,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 in the last three months. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI raised their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. Robert W. Baird boosted their price objective on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Friday. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month 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 has a 50-day moving average price of $389.94 and a 200 day moving average price of $288.09.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 1.99 EPS for the current 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.