Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,138 shares of the electric vehicle producer’s stock after acquiring an additional 257 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Tesla were worth $6,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Tesla by 112.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 35,857 shares of the electric vehicle producer’s stock valued at $7,095,000 after acquiring an additional 18,953 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Tesla by 20.2% during the second quarter. Envestnet Asset Management Inc. now owns 1,101,923 shares of the electric vehicle producer’s stock worth $218,048,000 after buying an additional 185,335 shares in the last quarter. Inspire Advisors LLC raised its position in Tesla by 23.4% during the second quarter. Inspire Advisors LLC now owns 2,012 shares of the electric vehicle producer’s stock worth $398,000 after acquiring an additional 382 shares during the last quarter. Williams Financial LLC acquired a new position in Tesla during the second quarter worth about $2,867,000. Finally, Seven Mile Advisory raised its position in Tesla by 23.6% during the second quarter. Seven Mile Advisory now owns 2,557 shares of the electric vehicle producer’s stock worth $506,000 after acquiring an additional 489 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock traded up $0.35 during midday trading on Monday, hitting $395.09. The company had a trading volume of 45,153,362 shares, compared to its average volume of 77,951,547. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business’s 50 day simple moving average is $376.60 and its two-hundred day simple moving average is $281.84. The stock has a market cap of $1.27 trillion, a PE ratio of 108.24, a P/E/G ratio of 10.80 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.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TSLA shares. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $296.60.

View Our Latest Research Report on TSLA

About Tesla

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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