Nicholson Wealth Management Group LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Nicholson Wealth Management Group LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,618 shares of the electric vehicle producer’s stock after acquiring an additional 200 shares during the period. Nicholson Wealth Management Group LLC’s holdings in Tesla were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. World Investment Advisors LLC grew its stake in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management grew its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its stake in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares during the last quarter. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSLA. Barclays upped their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $319.57.

Tesla Trading Down 4.7 %

Shares of TSLA stock opened at $337.80 on Monday. 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. The firm has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a PEG ratio of 5.86 and a beta of 2.34. The stock has a fifty day simple moving average of $400.17 and a two-hundred day simple moving average of $314.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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 predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were 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 approximately $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.