Golden State Wealth Management LLC Invests $6.69 Million in Tesla, Inc. (NASDAQ:TSLA)

Golden State Wealth Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,566 shares of the electric vehicle producer’s stock, valued at approximately $6,690,000. Tesla comprises approximately 1.0% of Golden State Wealth Management LLC’s holdings, making the stock its 21st largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter worth $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $35,000. Finley Financial LLC acquired a new position in shares of Tesla during the 4th quarter worth about $64,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Tesla in the 4th quarter valued at approximately $91,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 635,776 shares of company stock valued at $231,335,112 over the last ninety days. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. Mizuho reissued an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research report on Thursday, October 24th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research report on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $321.71.

Tesla Stock Down 6.3 %

NASDAQ:TSLA opened at $328.50 on Wednesday. The stock’s fifty day moving average price is $408.14 and its two-hundred day moving average price is $305.46. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 161.03, a P/E/G ratio of 6.22 and a beta of 2.34. 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 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

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.