Clientfirst Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Clientfirst Wealth Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,050 shares of the electric vehicle producer’s stock, valued at approximately $424,000. Tesla accounts for 0.4% of Clientfirst Wealth Management LLC’s portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. grew 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 valued at $56,000 after buying an additional 187 shares during the last quarter. Finley Financial LLC purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 136.4% during the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after buying an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 635,776 shares of company stock valued at $231,335,112 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA opened at $328.50 on Wednesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. The company has a fifty day moving average of $408.14 and a 200 day moving average of $305.46. 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 (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Morgan Stanley increased their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Piper Sandler increased their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $321.71.

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.