Alliance Wealth Advisors LLC UT Has $1.89 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Alliance Wealth Advisors LLC UT raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 144.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,670 shares of the electric vehicle producer’s stock after purchasing an additional 2,760 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Tesla were worth $1,886,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TSLA. Perpetual Ltd bought a new stake in Tesla in the third quarter worth approximately $655,000. Watts Gwilliam & Co. LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at $3,074,000. Hoese & Co LLP bought a new stake in Tesla in the third quarter worth $78,000. Albion Financial Group UT increased its position in Tesla by 18.2% during the third quarter. Albion Financial Group UT now owns 7,065 shares of the electric vehicle producer’s stock worth $1,848,000 after buying an additional 1,090 shares during the last quarter. Finally, Beaumont Financial Advisors LLC raised its holdings in Tesla by 24.4% during the third quarter. Beaumont Financial Advisors LLC now owns 2,888 shares of the electric vehicle producer’s stock valued at $756,000 after buying an additional 566 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSLA. Guggenheim reissued a “sell” rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. The Goldman Sachs Group boosted their price objective on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Wedbush boosted their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. 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 issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $322.29.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $361.62 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business’s fifty day moving average price is $407.94 and its two-hundred day moving average price is $302.76. 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 $1.16 trillion, a price-to-earnings ratio of 177.27, a price-to-earnings-growth ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts predict that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $36,761,200. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 664,776 shares of company stock valued at $239,746,862 in the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla 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.