MinichMacGregor Wealth Management LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

MinichMacGregor Wealth Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,551 shares of the electric vehicle producer’s stock after purchasing an additional 586 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in Tesla were worth $1,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at $29,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter valued at approximately $35,000. M&R Capital Management Inc. increased its stake in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. Finally, Quarry LP acquired a new stake in Tesla during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $406.58 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $398.82 and its 200 day simple moving average is $294.03. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla 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 sale, the director now directly 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 sold 617,886 shares of company stock worth $212,451,751 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. UBS Group upped their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Canaccord Genuity Group raised their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $313.84.

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.