Golden State Wealth Management LLC Acquires New Shares in Tesla, Inc. (NASDAQ:TSLA)

Golden State Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel reports. The fund bought 16,566 shares of the electric vehicle producer’s stock, valued at approximately $6,690,000. Tesla comprises 1.0% of Golden State Wealth Management LLC’s portfolio, making the stock its 21st largest position.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in Tesla during the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter valued at approximately $35,000. Finley Financial LLC bought a new stake in shares of Tesla during the fourth quarter worth $64,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of 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 acquiring an additional 187 shares during the period. Finally, Crews Bank & Trust acquired a new position in Tesla in the 4th quarter worth $91,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Morgan Stanley raised their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. Finally, Stifel Nicolaus lowered their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $321.71.

Tesla Trading Down 6.3 %

Shares of Tesla stock opened at $328.50 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a 50-day moving average of $408.14 and a 200-day moving average of $305.46. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $1.06 trillion, a PE ratio of 161.03, a PEG ratio of 6.22 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 635,776 shares of company stock valued at $231,335,112 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Company 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.