Apollon Wealth Management LLC Has $33.84 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Apollon Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 83,803 shares of the electric vehicle producer’s stock after purchasing an additional 6,157 shares during the period. Tesla accounts for about 0.8% of Apollon Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Apollon Wealth Management LLC’s holdings in Tesla were worth $33,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter worth approximately $35,000. Finley Financial LLC acquired a new stake in Tesla during the fourth quarter worth approximately $64,000. E Fund Management Hong Kong Co. Ltd. grew its position in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in Tesla during the fourth quarter worth approximately $91,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $328.50 on Wednesday. The company has a market capitalization of $1.06 trillion, a P/E ratio of 161.03, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. 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 business has a 50-day simple moving average of $408.14 and a two-hundred day simple moving average of $305.46.

Tesla (NASDAQ:TSLA) last posted its earnings results 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%. Research analysts expect that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. Stifel Nicolaus dropped their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $321.71.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 635,776 shares of company stock valued at $231,335,112 in the last 90 days. 20.70% of the stock is currently 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.