1900 Wealth Management LLC Acquires Shares of 511 Tesla, Inc. (NASDAQ:TSLA)

1900 Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel reports. The fund acquired 511 shares of the electric vehicle producer’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Geode Capital Management LLC boosted its position in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC boosted its position in shares of Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Mizuho reissued an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Jefferies Financial Group boosted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $321.71.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $350.73 on Tuesday. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 171.93, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $408.27 and its two-hundred day simple moving average is $304.55. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 635,776 shares of company stock worth $231,335,112. 20.70% 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.