GenWealth Group Inc. Invests $213,000 in Tesla, Inc. (NASDAQ:TSLA)

GenWealth Group Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 527 shares of the electric vehicle producer’s stock, valued at approximately $213,000.

Other institutional investors have also added to or reduced their stakes in the company. Acropolis Investment Management LLC lifted its stake in shares of Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its holdings 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 acquiring an additional 25 shares during the period. Connable Office Inc. lifted its position in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares in the last quarter. Community Bank N.A. boosted its holdings in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after acquiring an additional 38 shares during the period. Finally, Holistic Financial Partners grew its position in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TSLA shares. Wedbush restated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research note on Monday, November 18th. HSBC reaffirmed a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price objective on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $299.33.

Tesla Stock Up 3.1 %

NASDAQ TSLA opened at $426.50 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. 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’s 50-day moving average is $389.94 and its 200 day moving average is $288.78.

Tesla (NASDAQ:TSLA) last posted its earnings results 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current 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.