MinichMacGregor Wealth Management LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

MinichMacGregor Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,551 shares of the electric vehicle producer’s stock after acquiring an additional 586 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Tesla were worth $1,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Smith Thornton Advisors LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $233,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Tesla by 60.4% in the second quarter. Beaird Harris Wealth Management LLC now owns 2,181 shares of the electric vehicle producer’s stock valued at $432,000 after acquiring an additional 821 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in shares of Tesla by 40.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 140,155 shares of the electric vehicle producer’s stock valued at $27,734,000 after purchasing an additional 40,633 shares in the last quarter. Sepio Capital LP increased its holdings in shares of Tesla by 19.9% in the 2nd quarter. Sepio Capital LP now owns 57,907 shares of the electric vehicle producer’s stock valued at $11,459,000 after acquiring an additional 9,626 shares during the period. Finally, Kathmere Capital Management LLC raised its holdings in Tesla by 5.9% in the second quarter. Kathmere Capital Management LLC now owns 1,247 shares of the electric vehicle producer’s stock worth $247,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was 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 directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock valued at $212,451,751 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $406.58 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.31 trillion, a PE ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The company’s fifty day simple moving average is $398.82 and its 200-day simple moving average is $294.03. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly 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 business had revenue of $25.18 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $0.53 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TSLA shares. Wedbush upped their target price on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised their target price on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $313.84.

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.