Genesis Private Wealth LLC Acquires Shares of 1,446 Tesla, Inc. (NASDAQ:TSLA)

Genesis Private Wealth LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,446 shares of the electric vehicle producer’s stock, valued at approximately $584,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter valued at $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Tesla in the 3rd quarter worth about $35,000. M&R Capital Management Inc. boosted its stake in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, Quarry LP acquired a new position in Tesla in the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Wedbush boosted their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada upped their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $313.84.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $406.58 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The stock’s 50-day moving average is $397.11 and its two-hundred day moving average is $292.97. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 617,886 shares of company stock valued at $212,451,751. Insiders own 20.70% of the company’s stock.

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.