Focused Wealth Management Inc Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Focused Wealth Management Inc boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,468 shares of the electric vehicle producer’s stock after purchasing an additional 133 shares during the period. Tesla makes up 1.2% of Focused Wealth Management Inc’s portfolio, making the stock its 18th biggest position. Focused Wealth Management Inc’s holdings in Tesla were worth $9,073,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. bought a new position in Tesla during the 3rd quarter valued at $35,000. Finley Financial LLC acquired a new position in Tesla during the 4th quarter worth $64,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of 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 last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Tesla in the 4th quarter valued at about $91,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 2.4 %

TSLA opened at $336.51 on Thursday. The stock’s fifty day moving average is $407.68 and its 200-day moving average is $306.23. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $1.08 trillion, a PE ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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 10.31%. On average, equities analysts predict that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. Mizuho reiterated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Finally, Jefferies Financial Group raised their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $326.50.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 635,776 shares of company stock valued at $231,335,112 over the last ninety days. 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.