NRI Wealth Management LC Takes $1.08 Million Position in Tesla, Inc. (NASDAQ:TSLA)

NRI Wealth Management LC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,683 shares of the electric vehicle producer’s stock, valued at approximately $1,084,000. Tesla comprises about 0.7% of NRI Wealth Management LC’s portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at about $29,000. Clean Yield Group increased its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter worth about $35,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Guggenheim lifted their price objective on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, Barclays lifted their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $275.75.

Tesla Stock Performance

Tesla stock opened at $379.28 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.22 trillion, a P/E ratio of 103.91, a P/E/G ratio of 10.80 and a beta of 2.36. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a 50-day moving average of $359.54 and a 200-day moving average of $271.59.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 514,886 shares of company stock worth $169,393,831 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

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.