Walker Asset Management LLC Has $4.33 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Walker Asset Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,716 shares of the electric vehicle producer’s stock after selling 34 shares during the quarter. Tesla accounts for approximately 2.7% of Walker Asset Management LLC’s portfolio, making the stock its 7th largest position. Walker Asset Management LLC’s holdings in Tesla were worth $4,328,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter worth $29,000. Clean Yield Group lifted its stake in 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 purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake 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 worth $26,000 after purchasing an additional 81 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla in the third quarter worth $35,000. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 3.1 %

Shares of NASDAQ TSLA opened at $426.50 on Friday. The firm’s 50 day moving average price is $389.94 and its 200-day moving average price is $288.09. The company has a market cap of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock worth $213,451,751 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSLA shares. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Royal Bank of Canada boosted their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird boosted their price objective on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $299.33.

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.