Alpha Omega Group Inc. Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Alpha Omega Group Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 994 shares of the electric vehicle producer’s stock after buying an additional 58 shares during the period. Tesla comprises approximately 0.5% of Alpha Omega Group Inc.’s investment portfolio, making the stock its 13th largest holding. Alpha Omega Group Inc.’s holdings in Tesla were worth $401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hengehold Capital Management LLC lifted its holdings in Tesla by 1.8% in the 4th 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 in the last quarter. Strategic Investment Advisors MI lifted its holdings in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares in the last quarter. Acropolis Investment Management LLC lifted its holdings 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 valued at $1,136,000 after purchasing an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its holdings 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 valued at $2,950,000 after purchasing an additional 25 shares in the last quarter. Finally, Vista Finance LLC lifted its holdings in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TSLA shares. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Truist Financial raised their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Wednesday, February 12th. Finally, TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $388.00 in a research note on Friday. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $327.37.

Tesla Stock Down 0.3 %

Shares of NASDAQ:TSLA opened at $262.67 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $844.88 billion, a PE ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm’s 50-day moving average is $367.78 and its two-hundred day moving average is $318.71. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.