Sonora Investment Management LLC Purchases 96 Shares of Tesla, Inc. (NASDAQ:TSLA)


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Sonora Investment Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.8% in the 4th quarter, HoldingsChannel reports. The firm owned 848 shares of the electric vehicle producer’s stock after acquiring an additional 96 shares during the quarter. Sonora Investment Management LLC’s holdings in Tesla were worth $598,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Hohimer Wealth Management LLC lifted its stake in Tesla by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 1,552 shares of the electric vehicle producer’s stock worth $1,095,000 after purchasing an additional 12 shares during the last quarter. Jacobs & Co. CA lifted its stake in Tesla by 0.7% during the fourth quarter. Jacobs & Co. CA now owns 2,196 shares of the electric vehicle producer’s stock worth $1,549,000 after purchasing an additional 16 shares during the last quarter. Pflug Koory LLC lifted its stake in Tesla by 21.7% during the third quarter. Pflug Koory LLC now owns 140 shares of the electric vehicle producer’s stock worth $60,000 after purchasing an additional 25 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in Tesla by 4.4% during the fourth quarter. Sheets Smith Wealth Management now owns 611 shares of the electric vehicle producer’s stock worth $431,000 after purchasing an additional 26 shares during the last quarter. Finally, Fulton Bank N.A. lifted its stake in Tesla by 0.7% during the fourth quarter. Fulton Bank N.A. now owns 4,351 shares of the electric vehicle producer’s stock worth $3,071,000 after purchasing an additional 30 shares during the last quarter. 48.22% of the stock is owned by hedge funds and other institutional investors.

Shares of Tesla stock opened at $854.41 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $809.90 billion, a P/E ratio of 2,225.03, a P/E/G ratio of 20.46 and a beta of 1.68. The business has a fifty day simple moving average of $671.72 and a two-hundred day simple moving average of $451.20. Tesla, Inc. has a 12 month low of $70.10 and a 12 month high of $884.49.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.76 EPS for the quarter, beating the consensus estimate of $0.22 by $0.54. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.29 billion. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same quarter last year, the firm posted $0.37 earnings per share. Analysts predict that Tesla, Inc. will post 0.62 earnings per share for the current year.

Several research analysts have recently commented on TSLA shares. Needham & Company LLC started coverage on Tesla in a report on Wednesday, September 23rd. They issued a “sell” rating on the stock. Credit Suisse Group set a $400.00 price objective on Tesla and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Bank of America decreased their price objective on Tesla to $500.00 and set a “neutral” rating on the stock in a report on Tuesday, November 17th. Exane BNP Paribas downgraded Tesla from a “neutral” rating to an “underperform” rating and set a $340.00 price target on the stock. in a report on Tuesday, January 5th. Finally, Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $450.00 to $488.00 in a report on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $325.36.

In other news, SVP Andrew D. Baglino sold 10,000 shares of Tesla stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $424.60, for a total value of $4,246,000.00. Following the completion of the transaction, the senior vice president now owns 29,837 shares of the company’s stock, valued at approximately $12,668,790.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 4,463 shares of Tesla stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $762.99, for a total value of $3,405,224.37. Following the completion of the transaction, the chief accounting officer now directly owns 16,728 shares of the company’s stock, valued at approximately $12,763,296.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,643 shares of company stock valued at $92,195,056. 23.00% of the stock is owned by insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Further Reading: Gap Down Stocks

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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