LMG Wealth Partners LLC Invests $3.99 Million in Tesla, Inc. (NASDAQ:TSLA)

LMG Wealth Partners LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel reports. The firm acquired 9,875 shares of the electric vehicle producer’s stock, valued at approximately $3,988,000.

Other institutional investors have also added to or reduced their stakes in the company. Hengehold Capital Management LLC lifted its holdings in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI increased its position in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC lifted its stake in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD boosted its holdings in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Vista Finance LLC grew its position in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on 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 approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 4.7 %

NASDAQ TSLA opened at $337.80 on Friday. The stock has a market cap of $1.09 trillion, a PE ratio of 165.59, a PEG ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 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 company’s 50-day moving average price is $400.17 and its 200-day moving average price is $313.18.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Cantor Fitzgerald restated a “neutral” rating and issued a $365.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, January 29th. Mizuho reiterated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $319.57.

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.