Wealth Alliance Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealth Alliance increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,870 shares of the electric vehicle producer’s stock after acquiring an additional 641 shares during the period. Wealth Alliance’s holdings in Tesla were worth $3,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth $29,000. Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp boosted its position in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 4.7 %

Shares of Tesla stock opened at $337.80 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $1.09 trillion, a P/E ratio of 165.59, a PEG ratio of 5.86 and a beta of 2.34. The company’s fifty day simple moving average is $400.17 and its two-hundred day simple moving average is $313.18.

Tesla (NASDAQ:TSLA) last released its quarterly 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Mizuho reaffirmed an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. UBS Group lifted their price target on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $319.57.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last ninety days. 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.