Grant Private Wealth Management Inc Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Grant Private Wealth Management Inc acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,924 shares of the electric vehicle producer’s stock, valued at approximately $3,604,000. Tesla makes up about 3.9% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 5th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Tesla in the 4th quarter valued at $38,000. Delos Wealth Advisors LLC raised its position in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after acquiring an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC purchased a new position in Tesla during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 5.3 %

Shares of NASDAQ TSLA opened at $282.76 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market cap of $909.50 billion, a P/E ratio of 138.61, a PEG ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $312.22 and its 200-day simple moving average is $323.20.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock valued at $166,849,043. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TSLA shares. Wedbush reaffirmed an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research note on Thursday, March 27th. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $404.00 price objective on shares of Tesla in a report on Monday, March 17th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Robert W. Baird decreased their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $317.75.

About Tesla

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.