NRI Wealth Management LC Buys Shares of 2,683 Tesla, Inc. (NASDAQ:TSLA)

NRI Wealth Management LC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,683 shares of the electric vehicle producer’s stock, valued at approximately $1,084,000. Tesla makes up about 0.7% of NRI Wealth Management LC’s investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. GAMMA Investing LLC grew its position in Tesla by 35.4% during the 4th quarter. GAMMA Investing LLC now owns 35,709 shares of the electric vehicle producer’s stock valued at $14,421,000 after purchasing an additional 9,342 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Tesla by 24.5% in the fourth quarter. Versant Capital Management Inc now owns 3,892 shares of the electric vehicle producer’s stock worth $1,572,000 after buying an additional 767 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of Tesla by 9.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 1,130 shares of the electric vehicle producer’s stock valued at $456,000 after buying an additional 100 shares during the last quarter. SK Wealth Management LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $504,000. Finally, SMART Wealth LLC purchased a new position in Tesla in the 3rd quarter worth approximately $208,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $379.28 on Friday. The stock has a 50-day moving average price of $359.54 and a 200 day moving average price of $271.59. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market capitalization of $1.22 trillion, a P/E ratio of 103.91, a P/E/G ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last released 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 net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a report on Thursday, October 24th. Jefferies Financial Group lifted 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. HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $275.75.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla 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 completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,886 shares of company stock valued at $169,393,831. Corporate insiders own 20.70% of the company’s stock.

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.