Smart Money Group LLC Makes New $250,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Smart Money Group LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel.com reports. The firm bought 619 shares of the electric vehicle producer’s stock, valued at approximately $250,000.

A number of other institutional investors also recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth $29,000. Clean Yield Group raised its holdings 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 worth $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth $35,000. Finally, M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 0.6 %

Shares of NASDAQ TSLA opened at $424.07 on Wednesday. The stock’s 50 day moving average price is $391.47 and its two-hundred day moving average price is $290.05. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $1.36 trillion, a P/E ratio of 116.18, a PEG ratio of 8.60 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TSLA shares. Robert W. Baird boosted their price target on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Canaccord Genuity Group upped their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, January 6th. UBS Group upped their target price on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada upped their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Nine research analysts have rated the stock with a sell rating, fifteen have given 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 stock currently has an average rating of “Hold” and an average price target of $304.94.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on 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 owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 over the last quarter. 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.