Sound Income Strategies LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Sound Income Strategies LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 12.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,360 shares of the electric vehicle producer’s stock after purchasing an additional 1,871 shares during the period. Sound Income Strategies LLC’s holdings in Tesla were worth $6,607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rappaport Reiches Capital Management LLC boosted its stake in shares of Tesla by 1.7% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 3,572 shares of the electric vehicle producer’s stock valued at $1,443,000 after purchasing an additional 60 shares during the period. RFG Advisory LLC boosted its stake in shares of Tesla by 39.2% during the fourth quarter. RFG Advisory LLC now owns 20,291 shares of the electric vehicle producer’s stock valued at $8,194,000 after purchasing an additional 5,709 shares during the period. Private Capital Advisors Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $673,000. TABR Capital Management LLC purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $2,481,000. Finally, Motive Wealth Advisors boosted its stake in shares of Tesla by 6.4% during the fourth quarter. Motive Wealth Advisors now owns 4,457 shares of the electric vehicle producer’s stock valued at $1,800,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Wedbush increased their price objective on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. UBS Group upped their target price on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Finally, Barclays upped their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $313.84.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock valued at $212,451,751 over the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.4 %

Tesla stock opened at $406.58 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $1.31 trillion, a PE ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The business’s fifty day moving average is $398.82 and its 200 day moving average is $294.26.

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.