Peterson Wealth Services Takes $11.71 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Peterson Wealth Services bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel.com reports. The firm bought 47,106 shares of the electric vehicle producer’s stock, valued at approximately $11,711,000. Tesla accounts for about 5.0% of Peterson Wealth Services’ holdings, making the stock its 3rd largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Axiom Financial Strategies LLC raised its stake in Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after acquiring an additional 164,789 shares during the last quarter. MAS Advisors LLC raised its stake in Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares during the last quarter. Ergoteles LLC raised its stake in Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after acquiring an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 2.7 %

Shares of TSLA stock traded down $4.19 during mid-day trading on Thursday, hitting $151.26. 36,572,452 shares of the company’s stock were exchanged, compared to its average volume of 100,959,445. Tesla, Inc. has a fifty-two week low of $148.70 and a fifty-two week high of $299.29. The stock has a 50-day simple moving average of $180.24 and a two-hundred day simple moving average of $212.64. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock has a market cap of $481.73 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 4.15 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the business earned $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. Citigroup reduced their price objective on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Redburn Atlantic began coverage on Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price for the company. Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft downgraded Tesla from a “buy” rating to a “hold” rating and cut their target price for the stock from $189.00 to $123.00 in a research note on Thursday. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $194.70.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 over the last quarter. 25.10% of the stock is currently owned by 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.