SeaBridge Investment Advisors LLC Acquires 587 Shares of Tesla, Inc. (NASDAQ:TSLA)

SeaBridge Investment Advisors LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,625 shares of the electric vehicle producer’s stock after acquiring an additional 587 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Tesla were worth $1,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blossom Wealth Management bought a new position in shares of Tesla during the fourth quarter valued at approximately $271,000. Western Financial Corp CA raised its holdings in shares of Tesla by 8.7% during the fourth quarter. Western Financial Corp CA now owns 9,426 shares of the electric vehicle producer’s stock valued at $3,807,000 after acquiring an additional 753 shares in the last quarter. Marietta Wealth Management LLC raised its holdings in shares of Tesla by 5.2% during the fourth quarter. Marietta Wealth Management LLC now owns 1,627 shares of the electric vehicle producer’s stock valued at $657,000 after acquiring an additional 80 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Tesla by 19.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 47,368 shares of the electric vehicle producer’s stock valued at $19,129,000 after acquiring an additional 7,618 shares in the last quarter. Finally, Destiny Wealth Partners LLC raised its holdings in Tesla by 531.6% in the fourth quarter. Destiny Wealth Partners LLC now owns 9,449 shares of the electric vehicle producer’s stock worth $3,816,000 after purchasing an additional 7,953 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Barclays increased their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $318.31.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,386 shares of company stock valued at $196,305,796 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 2.2 %

Shares of NASDAQ:TSLA opened at $392.21 on Wednesday. The stock’s 50-day simple moving average is $405.12 and its two-hundred day simple moving average is $300.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. 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 $1.26 trillion, a price-to-earnings ratio of 192.26, a PEG ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts expect that Tesla, Inc. will post 2.82 EPS for the current year.

Tesla Profile

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.