Proathlete Wealth Management LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Proathlete Wealth Management LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,182 shares of the electric vehicle producer’s stock after acquiring an additional 36 shares during the quarter. Proathlete Wealth Management LLC’s holdings in Tesla were worth $881,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in Tesla in the third quarter worth $29,000. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter valued at about $35,000. Finley Financial LLC bought a new position in Tesla during the 4th quarter worth approximately $64,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock worth $196,305,796 over the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $404.60 on Friday. The company has a 50 day moving average of $403.18 and a 200 day moving average of $297.99. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market cap of $1.30 trillion, a P/E ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 7.26% and a return on equity of 10.54%. As a group, research analysts expect that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TSLA shares. Stifel Nicolaus raised their target price on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, January 6th. UBS Group boosted their price objective on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday. Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Robert W. Baird reduced their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a research report on Thursday. Nine equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $318.31.

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.