CWA Asset Management Group LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

CWA Asset Management Group LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 23,490 shares of the electric vehicle producer’s stock after buying an additional 417 shares during the quarter. CWA Asset Management Group LLC’s holdings in Tesla were worth $9,486,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Tesla by 17.7% in the 4th quarter. Nordea Investment Management AB now owns 1,227,460 shares of the electric vehicle producer’s stock worth $510,537,000 after purchasing an additional 185,014 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Tesla by 10.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,779 shares of the electric vehicle producer’s stock valued at $1,930,000 after acquiring an additional 440 shares during the period. Everence Capital Management Inc. boosted its holdings in shares of Tesla by 9.1% during the 4th quarter. Everence Capital Management Inc. now owns 64,790 shares of the electric vehicle producer’s stock valued at $26,165,000 after acquiring an additional 5,420 shares during the last quarter. Centre Asset Management LLC bought a new stake in Tesla in the 4th quarter worth approximately $9,179,000. Finally, NRI Wealth Management LC purchased a new position in shares of Tesla in the 4th quarter worth $1,084,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 1.6 %

Tesla stock traded up $6.47 during midday trading on Monday, reaching $416.91. The company’s stock had a trading volume of 34,662,350 shares, compared to its average volume of 78,854,469. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $1.34 trillion, a P/E ratio of 114.22, a PEG ratio of 10.80 and a beta of 2.36. 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 stock’s 50-day simple moving average is $362.37 and its 200-day simple moving average is $274.38.

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

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were 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 approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % 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 ninety days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Robert W. Baird upped their price target on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Evercore ISI upped their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday. Wells Fargo & Company lifted their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Friday. Nine investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $292.97.

Tesla Company 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.