Spectrum Wealth Advisory Group LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Spectrum Wealth Advisory Group LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,010 shares of the electric vehicle producer’s stock after purchasing an additional 197 shares during the quarter. Spectrum Wealth Advisory Group LLC’s holdings in Tesla were worth $408,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TSLA. International Assets Investment Management LLC raised its holdings in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Assenagon Asset Management S.A. increased its stake in Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP increased its stake in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TSLA shares. Stifel Nicolaus decreased their price target on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Canaccord Genuity Group lifted their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company lifted their price target on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Jefferies Financial Group lifted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $326.50.

Tesla Stock Up 1.8 %

Shares of NASDAQ:TSLA opened at $360.56 on Thursday. The stock has a fifty day simple moving average of $403.41 and a two-hundred day simple moving average of $311.13. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 176.75, a PEG ratio of 5.89 and a beta of 2.34. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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 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, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.