Sax Wealth Advisors LLC Has $1.20 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sax Wealth Advisors LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,969 shares of the electric vehicle producer’s stock after buying an additional 400 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Tesla were worth $1,199,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of Tesla by 131.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 31,916 shares of the electric vehicle producer’s stock valued at $6,315,000 after acquiring an additional 18,103 shares during the last quarter. Bridges Investment Management Inc. increased its stake in Tesla by 17.3% in the second quarter. Bridges Investment Management Inc. now owns 12,710 shares of the electric vehicle producer’s stock valued at $2,515,000 after purchasing an additional 1,875 shares in the last quarter. King Luther Capital Management Corp raised its holdings in Tesla by 2.8% in the second quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock worth $1,256,000 after purchasing an additional 173 shares during the period. Pacer Advisors Inc. boosted its position in shares of Tesla by 2.7% during the second quarter. Pacer Advisors Inc. now owns 289,756 shares of the electric vehicle producer’s stock worth $57,337,000 after purchasing an additional 7,633 shares in the last quarter. Finally, Clean Energy Transition LLP increased its position in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 3.1 %

NASDAQ:TSLA opened at $426.50 on Friday. The firm has a fifty day simple moving average of $389.94 and a two-hundred day simple moving average of $288.09. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on TSLA shares. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. The Goldman Sachs Group boosted their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned 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, the company has an average rating of “Hold” and an average target price of $299.33.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock worth $213,451,751 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

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.