Burkett Financial Services LLC Acquires 750 Shares of Tesla, Inc. (NASDAQ:TSLA)

Burkett Financial Services LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 194.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,135 shares of the electric vehicle producer’s stock after purchasing an additional 750 shares during the quarter. Burkett Financial Services LLC’s holdings in Tesla were worth $458,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. World Investment Advisors LLC boosted its position in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management boosted its position in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd boosted its position in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 0.1 %

NASDAQ TSLA traded up $0.42 during trading hours on Monday, reaching $410.86. 50,933,389 shares of the company’s stock traded hands, compared to its average volume of 84,164,391. The firm has a 50-day simple moving average of $362.37 and a 200 day simple moving average of $274.38. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $1.32 trillion, a PE ratio of 112.56, a PEG ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $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 90 days, insiders have sold 514,886 shares of company stock worth $169,393,831. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSLA. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Robert W. Baird boosted their target price on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target 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.