McAlister Sweet & Associates Inc. Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

McAlister Sweet & Associates Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 700 shares of the electric vehicle producer’s stock, valued at approximately $283,000. Tesla comprises approximately 0.2% of McAlister Sweet & Associates Inc.’s portfolio, making the stock its 25th biggest position.

Other large investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth about $29,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% during 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 period. Finally, Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley increased their price target on Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla Price Performance

Shares of TSLA traded down $16.69 on Tuesday, hitting $394.36. The company’s stock had a trading volume of 75,300,102 shares, compared to its average volume of 91,333,039. The company has a 50 day moving average price of $365.34 and a 200 day moving average price of $276.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market capitalization of $1.27 trillion, a PE ratio of 108.04, a PEG ratio of 10.80 and a beta of 2.30.

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

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 514,886 shares of company stock valued at $169,393,831. 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.