Cerro Pacific Wealth Advisors LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Cerro Pacific Wealth Advisors LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 774 shares of the electric vehicle producer’s stock, valued at approximately $313,000.

Other large investors have also modified their holdings of the company. New Century Financial Group LLC lifted its position in Tesla by 3.8% in the fourth quarter. New Century Financial Group LLC now owns 1,307 shares of the electric vehicle producer’s stock valued at $536,000 after acquiring an additional 48 shares during the last quarter. FCG Investment Co increased its position in shares of Tesla by 3.8% during the fourth quarter. FCG Investment Co now owns 1,289 shares of the electric vehicle producer’s stock worth $521,000 after purchasing an additional 47 shares in the last quarter. Yeomans Consulting Group Inc. purchased a new stake in shares of Tesla in the 4th quarter valued at about $980,000. Spinnaker Investment Group LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $367,000. Finally, Key Client Fiduciary Advisors LLC grew its stake in Tesla by 7.6% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 4,551 shares of the electric vehicle producer’s stock worth $1,838,000 after buying an additional 322 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 1.4 %

Shares of Tesla stock opened at $406.58 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a 50 day moving average price of $398.82 and a 200 day moving average price of $294.03. The company has a market capitalization of $1.31 trillion, a P/E ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Barclays raised their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Wedbush raised their price objective on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $313.84.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 617,886 shares of company stock worth $212,451,751. Corporate insiders own 20.70% of the company’s stock.

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.