Tesla, Inc. (NASDAQ:TSLA) is Concentrum Wealth Management’s 6th Largest Position

Concentrum Wealth Management increased its position in Tesla, Inc. (NASDAQ:TSLA) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 20,729 shares of the electric vehicle producer’s stock after purchasing an additional 639 shares during the period. Tesla comprises 2.9% of Concentrum Wealth Management’s investment portfolio, making the stock its 6th largest position. Concentrum Wealth Management’s holdings in Tesla were worth $8,371,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Hengehold Capital Management LLC lifted its position in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI lifted its holdings in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its position in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its position in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares in the last quarter. Finally, Vista Finance LLC raised its stake in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,228 shares of company stock worth $122,791,123. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Royal Bank of Canada reduced their price target on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Benchmark began coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Evercore ISI increased their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $312.65.

Tesla Stock Performance

TSLA opened at $239.43 on Monday. The company has a fifty day moving average of $305.98 and a 200 day moving average of $324.24. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a market capitalization of $770.13 billion, a price-to-earnings ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. 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 posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.