Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lifted by CWA Asset Management Group LLC

CWA Asset Management Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,490 shares of the electric vehicle producer’s stock after acquiring an additional 417 shares during the quarter. CWA Asset Management Group LLC’s holdings in Tesla were worth $9,486,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Connable Office Inc. raised its holdings in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares in the last quarter. Community Bank N.A. lifted its stake in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners lifted its position in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its position in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. increased its holdings in shares of Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after purchasing an additional 43 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was 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 directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 514,886 shares of company stock worth $169,393,831 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 1.6 %

NASDAQ TSLA traded up $6.47 during trading hours on Monday, hitting $416.91. The company had a trading volume of 34,662,350 shares, compared to its average volume of 78,854,469. The firm’s 50 day moving average is $362.37 and its 200 day moving average is $274.38. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 114.22, a P/E/G ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating 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 last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLA. Royal Bank of Canada increased their price target on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. increased their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group raised their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $292.97.

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.