GenWealth Group Inc. Takes $213,000 Position in Tesla, Inc. (NASDAQ:TSLA)

GenWealth Group Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The firm purchased 527 shares of the electric vehicle producer’s stock, valued at approximately $213,000.

Several other institutional investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter valued at approximately $29,000. Clean Yield Group boosted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter valued at $35,000. Finally, M&R Capital Management Inc. boosted its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. 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 research note on Monday, December 2nd. Canaccord Genuity Group lifted their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Piper Sandler raised their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $299.33.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.1 %

Shares of NASDAQ TSLA opened at $426.50 on Tuesday. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business’s 50 day moving average is $389.94 and its two-hundred day moving average is $288.78. 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 released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

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.