Beese Fulmer Investment Management Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Beese Fulmer Investment Management Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,740 shares of the electric vehicle producer’s stock after acquiring an additional 73 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Tesla were worth $703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter valued at about $35,000. Finley Financial LLC acquired a new position in shares of Tesla in the fourth quarter valued at about $64,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Tesla by 692.6% in the third 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 last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter worth about $91,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Stifel Nicolaus decreased their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday. Mizuho reaffirmed an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley upped their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $321.71.

Tesla Trading Down 3.0 %

Shares of TSLA opened at $350.73 on Tuesday. The firm’s fifty day moving average is $408.27 and its two-hundred day moving average is $304.55. The stock has a market cap of $1.13 trillion, a PE ratio of 171.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. Research analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale 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 Tesla stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 635,776 shares of company stock worth $231,335,112 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

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.