Parisi Gray Wealth Management Increases Stake in Tesla, Inc. (NASDAQ:TSLA)


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Parisi Gray Wealth Management increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,859 shares of the electric vehicle producer’s stock after buying an additional 127 shares during the period. Tesla comprises approximately 0.9% of Parisi Gray Wealth Management’s holdings, making the stock its 27th largest holding. Parisi Gray Wealth Management’s holdings in Tesla were worth $2,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. Hohimer Wealth Management LLC increased its position in shares of Tesla by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 1,552 shares of the electric vehicle producer’s stock worth $1,095,000 after purchasing an additional 12 shares in the last quarter. SNS Financial Group LLC lifted its stake in Tesla by 0.3% during the 4th quarter. SNS Financial Group LLC now owns 3,824 shares of the electric vehicle producer’s stock worth $2,698,000 after acquiring an additional 12 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its stake in Tesla by 1.2% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 1,098 shares of the electric vehicle producer’s stock worth $775,000 after acquiring an additional 13 shares in the last quarter. WP Advisors LLC lifted its stake in Tesla by 1.9% during the 4th quarter. WP Advisors LLC now owns 800 shares of the electric vehicle producer’s stock worth $565,000 after acquiring an additional 15 shares in the last quarter. Finally, Consolidated Planning Corp lifted its stake in Tesla by 1.2% during the 4th quarter. Consolidated Planning Corp now owns 1,311 shares of the electric vehicle producer’s stock worth $925,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 41.39% of the company’s stock.

TSLA has been the topic of several research reports. JMP Securities lowered Tesla from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 28th. They noted that the move was a valuation call. Morgan Stanley raised Tesla from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $360.00 to $540.00 in a research note on Wednesday, November 18th. BNP Paribas lowered Tesla from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $385.00 to $340.00 in a research note on Tuesday, January 5th. Smith Barney Citigroup increased their target price on Tesla from $117.00 to $137.00 in a research note on Tuesday, October 27th. Finally, Royal Bank of Canada raised Tesla from an “underperform” rating to a “sector perform” rating in a research report on Thursday, January 7th. Twelve equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Tesla presently has an average rating of “Hold” and an average price target of $338.99.

In other news, Director Kathleen Wilson-Thompson sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $592.99, for a total value of $7,412,375.00. Following the completion of the sale, the director now directly owns 14,300 shares of the company’s stock, valued at approximately $8,479,757. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Kirkhorn sold 1,250 shares of Tesla stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $628.59, for a total value of $785,737.50. Following the transaction, the chief financial officer now directly owns 57,507 shares of the company’s stock, valued at $36,148,325.13. The disclosure for this sale can be found here. Insiders sold a total of 131,323 shares of company stock valued at $93,966,505 over the last three months. Insiders own 23.00% of the company’s stock.

Shares of TSLA stock traded down $49.50 during midday trading on Tuesday, hitting $665.00. The company had a trading volume of 60,564 shares, compared to its average volume of 30,738,014. The company’s 50 day simple moving average is $827.41 and its 200 day simple moving average is $561.79. Tesla, Inc. has a 52-week low of $70.10 and a 52-week high of $900.40. The stock has a market cap of $638.30 billion, a price-to-earnings ratio of 1,335.34, a PEG ratio of 8.81 and a beta of 2.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.63 and a quick ratio of 1.32.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 27th. The electric vehicle producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.17. The company had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.38 billion. Tesla had a return on equity of 4.93% and a net margin of 1.97%. The company’s revenue was up 44.9% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Analysts anticipate that Tesla, Inc. will post 1.02 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, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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