Alliance Wealth Advisors LLC Takes $326,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Alliance Wealth Advisors LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 807 shares of the electric vehicle producer’s stock, valued at approximately $326,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the 3rd quarter valued at about $35,000. Finley Financial LLC bought a new stake in shares of Tesla during the 4th quarter valued at about $64,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of Tesla during the 4th quarter valued at about $91,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TSLA shares. The Goldman Sachs Group upped their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Canaccord Genuity Group upped their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wedbush increased their price target on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $326.50.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 635,776 shares of company stock valued at $231,335,112 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of TSLA opened at $336.51 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $407.68 and a 200 day moving average of $306.23. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

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.