Sound Income Strategies LLC Has $426,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sound Income Strategies LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 21.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,457 shares of the electric vehicle producer’s stock after purchasing an additional 603 shares during the quarter. Sound Income Strategies LLC’s holdings in Tesla were worth $426,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC raised its position in shares of Tesla by 224.1% during the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 65 shares during the last quarter. Coston McIsaac & Partners raised its position in shares of Tesla by 200.0% during the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 64 shares during the last quarter. West Oak Capital LLC bought a new position in shares of Tesla during the third quarter worth about $27,000. JDM Financial Group LLC bought a new position in shares of Tesla during the fourth quarter worth about $27,000. Finally, Alpha Paradigm Partners LLC bought a new position in shares of Tesla during the third quarter worth about $27,000. 43.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total value of $1,233,750.00. Following the transaction, the senior vice president now owns 64,259 shares of the company’s stock, valued at $7,550,432.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the transaction, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $7,550,432.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Vaibhav Taneja sold 2,466 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $195.79, for a total value of $482,818.14. Following the transaction, the chief accounting officer now directly owns 100,458 shares in the company, valued at approximately $19,668,671.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,221 shares of company stock valued at $8,988,542. Insiders own 25.10% of the company’s stock.

Tesla Stock Down 2.2 %

Shares of NASDAQ:TSLA traded down $4.00 during mid-day trading on Friday, hitting $180.13. 133,197,140 shares of the company traded hands, compared to its average volume of 183,019,109. The stock has a 50-day moving average price of $175.38 and a two-hundred day moving average price of $197.63. The company has a current ratio of 1.53, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $384.29. The stock has a market cap of $569.95 billion, a P/E ratio of 49.71, a P/E/G ratio of 2.18 and a beta of 2.06.

Tesla (NASDAQ:TSLA – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.21. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The business had revenue of $24.32 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was up 37.2% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 3.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSLA shares. Royal Bank of Canada raised their price objective on Tesla from $186.00 to $223.00 and gave the stock an “outperform” rating in a research report on Monday, February 6th. Citigroup lifted their target price on Tesla from $137.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Evercore ISI lowered their target price on Tesla from $300.00 to $200.00 and set an “in-line” rating for the company in a report on Tuesday, December 20th. Wedbush reiterated an “outperform” rating and issued a $225.00 target price on shares of Tesla in a report on Thursday, March 2nd. Finally, Bank of America lifted their target price on Tesla from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $221.39.

About Tesla

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.