M Wealth Management LLC Invests $355,000 in Tesla, Inc. (NASDAQ:TSLA)

M Wealth Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 880 shares of the electric vehicle producer’s stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Hengehold Capital Management LLC lifted its position in Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC increased its stake in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its stake in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the period. Finally, Prospect Financial Services LLC increased its position in Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after purchasing an additional 26 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. Robert W. Baird cut their price objective on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays lifted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Guggenheim restated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. HSBC reiterated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday. Nine investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $318.31.

Tesla Stock Up 1.1 %

TSLA opened at $404.60 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The business has a 50-day moving average of $404.22 and a 200-day moving average of $299.34. 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 capitalization of $1.30 trillion, a PE ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. Equities research analysts forecast that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 553,386 shares of company stock valued at $196,305,796. 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.