Burkett Financial Services LLC Buys 750 Shares of Tesla, Inc. (NASDAQ:TSLA)

Burkett Financial Services LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 194.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,135 shares of the electric vehicle producer’s stock after acquiring an additional 750 shares during the period. Burkett Financial Services LLC’s holdings in Tesla were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter worth about $29,000. Clean Yield Group grew its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla in the third quarter worth about $35,000. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

NASDAQ TSLA traded up $0.42 during trading on Monday, reaching $410.86. 50,933,389 shares of the company traded hands, compared to its average volume of 84,164,391. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock’s 50 day moving average price is $362.37 and its two-hundred day moving average price is $274.38. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.56, a P/E/G ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

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, beating analysts’ consensus estimates of $0.58 by $0.14. The company 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 company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Canaccord Genuity Group upped their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America increased their price objective on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $292.97.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,886 shares of company stock valued at $169,393,831 in the last three months. 20.70% of the stock is owned by corporate 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.