Waterway Wealth Management LLC Takes $208,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Waterway Wealth Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 836 shares of the electric vehicle producer’s stock, valued at approximately $208,000.

Other large investors have also recently bought and sold shares of the company. Synergy Financial Group LTD boosted its holdings in Tesla by 7.3% in the second quarter. Synergy Financial Group LTD now owns 6,432 shares of the electric vehicle producer’s stock worth $1,684,000 after purchasing an additional 438 shares in the last quarter. New Republic Capital LLC bought a new stake in Tesla during the second quarter valued at about $429,000. Oak Ridge Investments LLC boosted its holdings in Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares during the period. Charter Oak Capital Management LLC boosted its holdings in Tesla by 8.9% during the third quarter. Charter Oak Capital Management LLC now owns 1,271 shares of the electric vehicle producer’s stock valued at $318,000 after acquiring an additional 104 shares during the period. Finally, CWM LLC boosted its holdings in Tesla by 14.4% during the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock valued at $36,717,000 after acquiring an additional 18,462 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein decreased their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday. TD Cowen decreased their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Monday. China Renaissance started coverage on Tesla in a research report on Monday, February 26th. They set a “hold” rating on the stock. Finally, Barclays decreased their target price on Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $208.04.

Tesla Stock Up 2.9 %

NASDAQ TSLA traded up $5.04 on Tuesday, reaching $177.67. The company had a trading volume of 112,973,935 shares, compared to its average volume of 103,460,648. The firm has a market capitalization of $565.84 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 3.84 and a beta of 2.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The company’s fifty day moving average is $189.34 and its 200-day moving average is $222.86.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period in the previous year, the company posted $1.07 earnings per share. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock valued at $36,952,434 in the last three months. 20.90% of the stock is currently 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.