Mount Yale Investment Advisors LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Mount Yale Investment Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 170.9% in the 4th quarter, HoldingsChannel reports. The firm owned 12,924 shares of the electric vehicle producer’s stock after purchasing an additional 8,154 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Tesla were worth $5,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors LLC grew its position in Tesla by 1,248.9% during the third 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 period. Destination Wealth Management boosted its stake in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd grew its holdings 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 acquiring an additional 43,685 shares during the period. MML Investors Services LLC increased its stake in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Wells Fargo & Company upped their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. 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 note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $318.31.

Tesla Trading Up 2.9 %

TSLA opened at $400.28 on Friday. The firm’s 50 day moving average is $401.98 and its 200-day moving average is $297.28. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 109.67, a P/E/G ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. Analysts expect that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $31,548,461.84. This represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 553,386 shares of company stock valued at $196,305,796. 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.